The market capitalization of MicroStrategy has reached a new high, surpassing the level of $31.85 billion. MicroStrategy now ranks 606th in the world ranking of companies based on the above indicator.

The American software company, one of the largest public holders of Bitcoin in the world, also saw its share price rise. Since the beginning of 2024, the increase has been 200% and shares are trading around $1,880.

Let us remind you that in the period from March 11 to March 18, MicroStrategy bought another 9,245 BTC for a total of $623 million. According to the latest data, the company holds 214,246 BTC on its balance sheet for a total of $7.53 billion, which were purchased at an average price of $35,160 This is 1% of the entire existing supply of bitcoins on the global cryptocurrency market. To purchase the first cryptocurrency, the company used profits from previously placed convertible bonds maturing in 2031.

Previously, MicroStrategy CEO and co-founder Michael Saylor said that Bitcoin will “eat gold” because BTC has the advantages of the precious metal without the inherent disadvantages. He believes that the first cryptocurrency has the opportunity to become a dominant asset in various investment products after spot Bitcoin ETFs were approved in the United States.