MicroStrategy’s (MSTR) market capitalization has topped $100 billion, and the de-facto Bitcoin (BTC) fund is on track to surpass chip maker Intel.
The stock is set for further gains as analysts expect MicroStrategy’s BTC buying spree to accelerate even faster than anticipated, according to a Nov. 19 analyst report shared with Cointelegraph.
According to data from Google Finance, Intel, a more than 60-year-old semiconductor titan, has a market capitalization of nearly $102 billion as of Nov. 20.
The crypto market surged following Donald Trump’s victory in the United States presidential election, as many believe his win will benefit the industry, Cointelegraph Research said.
On Nov. 20, Microstrategy was America’s most traded stock, beating big names like Tesla and Nvidia, according to Eric Balchunas, an analyst at Bloomberg Intelligence.
Source: MicroStrategy
Related: MicroStrategy’s $42B Bitcoin bet is bullish for shareholders — Analyst
During MicroStrategy’s Oct. 30 earnings call, the company tipped plans to raise $21 billion in equity and another $21 billion in debt to fund a three-year, multibillion-dollar BTC buying spree dubbed the “21/21 Plan.”
MicroStrategy’s “controversial strategy has attracted many detractors, [but] its dramatic impact on the company’s share price has provided ample justification, as its stock has outperformed those of almost every large company in the U.S. during the past four-plus years,” Benchmark fintech analyst Mark Palmer told Cointelegraph in an email.
Palmer raised his price target for MSTR to $450 per share from his previous estimate of $300 on Oct. 31. He expects BTC to hit $225,000 before the end of 2026.
On Nov. 15, MicroStrategy’s executive chairman, Michael Saylor, indicated during a CNBC interview that “the company’s pace of securities issuance and Bitcoin acquisition was likely to be faster than management had originally outlined,” Palmer said.
Source: MicroStrategy
On Nov. 19, MicroStrategy announced its largest-ever BTC buy, acquiring 51,780 BTC for $4.6 billion between Nov. 11 and Nov. 17. It now holds approximately $40 billion worth of BTC, according to Benchmark.
During its Aug. 1 earnings call, MicroStrategy doubled down on BTC buying by committing to a unique performance metric: Bitcoin yield.
Bitcoin yield measures the ratio of BTC holdings to outstanding shares and effectively sets BTC-per-share as a lodestar for corporate performance.
“While many investors have been focused on MSTR’s market capitalization relative to its [net asset value], we believe a more valuable metric for assessing the company’s value is its BTC yield,” Palmer said.
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