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MicroStrategy Market Value Tops $100 Billion as Bitcoin Hits New High
MicroStrategy is riding the bitcoin surge to a $100 billion market value.Shares of the largest corporate bitcoin holder are up 11.2% Tuesday to $427.96, continuing its rally with the stock nearly doubling since the Nov. 5 election. The stock has been a huge winner this year as the shares are up about sevenfold.Bitcoin is at a new high, gaining 2.8% to around $94,000 as it nears the $100,000 threshold. The cryptocurrency is up about 35% since the election as investors see Donald Trump as crypto-friendly.MicroStrategy's market value based on its basic shares outstanding is $96 billion. But its market capitalization is $110 billion using a fully diluted share count of 256.3 million shares that the company disclosed Monday in an 8-K that includes shares that would be issued to satisfy outstanding convertible debt. MicroStrategy is now one of largest U.S. companies not in the S&P 500 index.Investors are gravitating toward MicroStrategy because they like the company's strategy of aggressivel
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