MSTR - MicroStrategy's Bitcoin Surge: How a Tech Company Outpaces eBay and Delta in Market Cap | Benzinga
MicroStrategy Inc (NASDAQ:MSTR), known for its substantial Bitcoin holdings, has seen its stock surge by a staggering 204% this year, reaching $1,919 by Wednesday’s close.
This surge has propelled its market capitalization to over $32 billion, surpassing 237 companies in the S&P 100, including well-established names like eBay Inc (NASDAQ:EBAY) and Delta Air Lines Inc (NYSE:DAL).
Despite being classified under the Russell 2000 Index, typically comprising smaller-cap stocks, its market value rivals that of much larger entities, Bloomberg reports.
However, MicroStrategy’s inclusion in the S&P 500 is not straightforward, as its revenue model primarily hinges on its Bitcoin holdings ...