Bitcoin24h $86,173.77+1.36%

Ethereum24h $2,724.41+1.06%

BNB24h $793.97+0.69%

XRP24h $1.52+1.33%

Solana24h $121.52+0.44%

TRON24h $0.3351-0.08%

Hyperliquid24h $91.74+2.16%

Zcash24h $1,328.76-0.32%

Dogecoin24h $0.0960+3.16%

Chainlink24h $14.18+1.00%

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.