Bitcoin24h $118,649.58+0.41%

Ethereum24h $3,860.74+1.22%

XRP24h $3.15+1.08%

BNB24h $804.56+0.51%

Solana24h $181.14+0.23%

Dogecoin24h $0.2234+0.75%

TRON24h $0.3254-2.74%

Cardano24h $0.7818+0.35%

Hyperliquid24h $43.48+1.20%

Sui24h $3.92+3.69%

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.