MicroStrategy’s MSTR shares rally, earns spot among top 500 US companies

MicroStrategy has surged into the elite ranks of the top 500 US companies by market capitalization, riding a recent bullish wave in its stock performance.

Data reveals a remarkable ascent for MicroStrategy, climbing 46 places in just one day to secure the 427th spot among America’s largest publicly traded firms as of Feb. 29.

This significant climb follows a five-day trading period where its stock witnessed a staggering 45% rally to above the $1000 threshold for the first time since February 2021, driving its market capitalization to an impressive $16.76 billion.

According to Yahoo Finance data, its shares have slightly retraced to $982 at the time of reporting.

S&P 500 Index inclusion?

Market analysts noted that this significant surge could potentially position MicroStrategy for inclusion in the S&P 500 Index, a key gauge of the US equity market comprising 500 major companies.

Investment manager Sean Young highlights the potential impact, noting MicroStrategy’s entry into this league would seamlessly integrate it into retail portfolios. He added:

“The inevitable demand from passive SPY investors not even actively seeking Bitcoin exposure could spark a massive positive feedback loop as Bitcoin begins automatically entering retail portfolios.”

To qualify, MicroStrategy must meet several criteria, notably a minimum market cap exceeding $15.8 billion, a milestone it has already surpassed. Additionally, it must demonstrate positive earnings over the past four quarters, including the latest one, and ensure a minimum monthly trading volume of 250,000 shares over the last six months.

BTC bet yields more than $1 billion in 24 hours

MicroStrategy’s Bitcoin investment recorded over $1 billion in unrealized profit during the last 24 hours as BTC’s price increased to more than $60,000.

According to data from SaylorTracker, a platform monitoring MicroStrategy’s BTC endeavors, the firm raked in $1.1 billion in profit, propelling the total value of its 193,000 BTC stash to $12.3 billion.

Remarkably, MicroStrategy’s Bitcoin investment has been profitable, sitting on an unrealized profit of around $6 billion from its initial investment of $6.1 billion.

This windfall follows MicroStrategy’s persistent Bitcoin acquisitions. Michael Saylor, the company’s executive chairman, recently disclosed the purchase of an additional 3,000 BTC for $155 million.