MicroStrategy Surpasses $50B Market Cap, Just $3B from Coinbase

MicroStrategy (MSTR) is nearing a significant milestone, being less than $3 billion away from surpassing Coinbase’s market capitalization. As of late October 2024, MicroStrategy’s market cap stands at approximately $52 billion, while Coinbase’s is around $55 billion. This shift comes amid resurgence in the cryptocurrency market, fueled by rising Bitcoin prices and increased investor interest following the recent ETF approvals.

⚡️ MicroStrategy less than $3b away from flipping Coinbase’s market cap. #Bitcoin Strategy 💪 pic.twitter.com/414tlmZaMX

— Bitcoin Archive (@BTC_Archive) October 29, 2024

MicroStrategy’s Market Cap Over the Years

MicroStrategy has adopted an aggressive strategy by investing heavily in Bitcoin, holding over 214,000 BTC valued at approximately $13.8 billion. This investment strategy has drawn mixed reactions; while some analysts view it as a potential growth catalyst, other caution about the company’s reliance on Bitcoin’s performance amidst challenges in its core software business.

Over the past years, MSTR’s market cap has increased from $10 billion to $52 billion. This surge can be attributed to rising Bitcoin prices and company’s continued investment in the cryptocurrency, which has positioned it as one of the largest corporate holders of Bitcoin.

Coinbase’s growth

Coinbase, on the other hand has demonstrated robust growth with a 280% increase in stock price over the past year, driven by its strong trading volume and revenue recovery after a challenging 2022. Analysts predict Coinbase’s revenue will continue to rise and go on to become a leading cryptocurrency exchange.

As both companies navigate the volatile crypto landscape, investors are keenly watching how MicroStrategy’s Bitcoin strategy plays out against Coinbase’s more diversified business model.

The coming weeks could see MicroStrategy potentially flip Coinbase’s market cap if the current trend continues.