On March 26, the capitalization of MicroStrategy reached a new historical high of $31.85 billion. The daily increase of 1.13% was a consequence of Bitcoin’s recovery to $70,000.
Share quotes ended the day at $1,877. Intraday they set a new record of $1909.5.
Since the beginning of the year, MicroStrategy's capitalization has almost tripled, including by 135.7% over the last month.
Interest in the securities is fueled by the rally in the cryptocurrency market and the implementation of the company's Bitcoin strategy.
On March 19, it became known about another purchase of coins. MicroStrategy added 9,245 BTC to its balance sheet, spending $623 million. The company’s cryptocurrency reserves reached 214,246 BTC. This exceeds 1% of the total digital gold supply.
MicroStrategy used proceeds from the offering of $592.3 million of convertible senior notes, as well as $30.7 million of its own cash.
The company's 214,246 BTC holdings are valued at $14.98 billion, according to BitcoinTreasuries. Unrealized gains approached 100%.
Earlier, its founder Michael Saylor said that in the near and long term the company does not intend to sell reserves of the first cryptocurrency.
Source: Cryptocurrency
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