MicroStrategy’s MSTR stock recorded higher trading volumes than both Tesla (TSLA) and Nvidia (NVDA) shares yesterday and saw its price pump more than 10% in the last 24 hours as Bitcoin (BTC) sets a new all-time high (ATH) above $97K.
According to Bloomberg ETF analyst Eric Balchunas, MSTR was “the most traded stock in America” yesterday, adding that it experienced more trading activity than both TSLA and NVDA. “It’s been years since a stock has traded more than one of those two,” he said in a Nov. 20 X Post by.
MicroStrategy market cap soars to $100 billion after MSTR surges 10%
In addition to the surge in trading volume yesterday, MicroStrategy’s market cap also topped $100 billion. The company’s valuation has since undergone a slight correction. MSTR still has a 10% gain, and is trading at $473.83 by 2:14 AM EST. Google Finance data.
This recent surge in MSTR’s value has closed the gap between MicroStrategy’s Intel, a semiconductor giant that is more than 60 years old, has a market cap of over $103.56 Billion. Google Finance data shows that Intel’s market cap stands at over $103.56 billion.This is after the company’s shares, INTC, recorded a less than 1% drop in the last 24 hours.
Bitcoin soars at a new record high
The trading frenzy around MSTR and MicroStrategy’s rising market cap coincide with a continued rise in BTC’s price. Known for being the largest corporate holder of Bitcoin by far, MicroStrategy’s aggressive accumulation of the leading crypto is paying off.
Earlier in today’s trading session, BTC A new ATH was posted of $97.862.64. Since then, it has retraced a little, but is still up more than 7% in the last week, and 43% over the past month. Bitcoin’s dominance has also risen to more than 60% as the rest of the crypto market struggles to keep up with the flagship crypto’s gains.
