Bitcoin24h $70,485.37-7.20%

Ethereum24h $2,085.28-7.44%

BNB24h $681.38-9.13%

XRP24h $1.36-14.48%

Solana24h $89.71-6.97%

TRON24h $0.2793-2.61%

Dogecoin24h $0.0985-8.09%

Bitcoin Cash24h $511.62-3.03%

Cardano24h $0.2709-8.82%

Hyperliquid24h $33.39+0.07%

The math behind MicroStrategy’s bitcoin bet

Bitcoin and MicroStrategy are both rallying with win-win math for bondholders and shareholders. Of course, the party can’t last forever.

Will MicroStrategy exceed bitcoin’s market cap in 2025?

MicroStrategy started 2023 with a market capitalization of just $1.8 billion. Today, this figure sits at $111 billion.

Michael Saylor’s Class B MicroStrategy stock outvoted Class A 10:1, but so much Class A now exists that he has lost voting control.

In 2023, MicroStrategy’s average bitcoin purchase price was near $30,000. Today, that average has jumped to near $50,000.

MicroStrategy executives boasted about the ability to yield higher bitcoin exposure per MSTR share over time. We read the fine print.