MicroStrategy’s Bitcoin focus drives market cap past $50 billion, overtaking Coinbase Insights Crypto Equities
MicroStrategy’s Bitcoin focus drives market cap past $50 billion, overtaking Coinbase
Ambitious Bitcoin expansion plan catapults MicroStrategy past Coinbase amid crypto market shifts.
The market capitalization of MicroStrategy, the prominent Bitcoin-focused investment firm, has now exceeded that of Coinbase, the largest crypto exchange in the US.
According to data from Yahoo Finance, MicroStrategy (MSTR) is currently valued at over $50 billion, surpassing Coinbase (COIN), which stands at approximately $46.5 billion.
This shift is not surprising, given MicroStrategy’s stock’s remarkable performance. Over the past year, shares have surged by approximately 400% to a two-decade high of around $250.
In contrast, Brian Armstrong-led Coinbase has risen by a solid but relatively more modest 40% due to heightened competition in North America. The exchange has recently lost market share to the rapidly growing Crypto.com and has seen reduced trading activity due to the introduction of spot Bitcoin ETFs.
Further, this change reflects the market’s response to the third-quarter earnings reports from both companies. MicroStrategy announced an ambitious plan to raise $42 billion to purchase Bitcoin, while Coinbase revealed intentions for a $1 billion stock buyback. Some crypto experts argue that the exchange should have invested in Bitcoin rather than its own shares.
Overall, MicroStrategy now ranks among the top three companies by market capitalization holding, mining, or accepting Bitcoin. It is trailing only electronic car maker Tesla and payment giant PayPal.
Analyst 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Michael Saylor is the Executive Chairman, founder, and principal shareholder of MicroStrategy.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
MicroStrategy
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in enterprise analytics and mobility software.
