MicroStrategy (MSTR) is the Most Traded Stock in the US Today
Michael Saylor’s MicroStrategy (MSTR) is the most traded stock in the United States today, surpassing $18.6B in trading activity today. It is currently besting Elon Musk’s Tesla (TSLA) and chip developer Nvidia (NVDA) in activity today. No stock has bested either NVDA or TSLA in daily trading for some time. However, MicroStrategy’s recent moves on Bitcoin are igniting a fire under investors Wednesday.
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Michael Saylor’s MicroStrategy $MSTR is the most traded stock in the US today.
— Watcher.Guru (@WatcherGuru) November 20, 2024
In a press release issued today, MicroStrategy announced an offering of convertible senior notes. Indeed, the move continues the same process the company has used to grow its Bitcoin holdings. To this point, it has paid dividends, with the company’s stock surging amid its ongoing accumulation of the leading crypto.
MicroStrategy has had a huge November, as has the company’s stock. Michael Saylor’s company set a new personal record this morning, reaching a $100B market cap. The biggest contributor to this rise is arguably the corresponding climb of the king cryptocurrency, Bitcoin (BTC). In the last 30 days, BTC is up 39%, creeping up on a $100,000 price for the first time. The firm’s belief in Bitcoin and its project has brought record gains for MicroStrategy, and the company isn’t slowing down.
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The company most recently purchased an additional $4.6 billion worth of Bitcoin. That acquisition brought the company’s total holdings above 331,200 BTC worth more than $30 billion at their current price. Saylor’s Bitcoin strategy was viewed by many as a key reason for the stock’s performance. He has reflected that strategy into his MSTR, spreading the profits and joys that come with being a Bitcoin holder in November 2024.
Furthermore, MicroStrategy’s Bitcoin is even more impressive when considering the average value the company paid for each token. According to Saylor, the company has averaged just $49,874 per Bitcoin purchase, meaning nearly 100% profit for each token. As 2024 hits its final legs, Bitcoin is expected to surpass the $100k mark. Correspondingly, Michael Saylor and MicroStrategy will likely only keep the Bitcoin acquisitions coming.