Bitcoin News Today: MSTR Hits All-Time High Market Cap as Bitcoin Surges 10%

Michael Saylor’s Strategy (MSTR) closed the trading day on Wednesday at its highest ever market capitalization, as Bitcoin continues to float near record highs. Saylor announced this milestone on X, stating, “MSTR just closed at an all-time high market cap.” This surge comes as MSTR’s stock price has climbed 21.52% over the past month, closing Wednesday at $455.90. Meanwhile, Bitcoin (BTC) has surged 10% over the past month, reaching new highs of $122,884 on Monday before pulling back to $118,413 at the time of publication. Options trader Sean Trades commented on Wednesday that MSTR is “gearing up for the next leg to all-time highs.”

Despite setting a new market cap record, MSTR is trading 19% below its all-time high of $543, reached on Nov. 20. The firm has continued to issue stock to raise funds for its Bitcoin accumulation strategy. Strive Funds Bitcoin Strategy vice president Jeff Walton noted in an X post on Wednesday that it is the 11th day of Strategy qualifying for the S&P 500. In May, during the Financial Times documentary Michael Saylor’s $40 Billion Bitcoin Bet, Walton predicted that the Strategy would become the “number one publicly traded equity in the entire market” because of its future financial strength enabled with Bitcoin.

The company announced in a Monday US Securities and Exchange Commission filing that they acquired 4,225 Bitcoin for $472.5 million last week. Strategy will release its latest earnings report on Aug. 5. The firm has reported net losses for the past three quarters. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.