MicroStrategy’s BTC-powered trading volume surpasses Apple, Amazon and Meta Combined

MicroStrategy (MSTR), a leading business intelligence company turned Bitcoin holder, has made history, reaching a staggering trading volume of $21.8 billion on November 19, 2024.

The milestone surpassed the combined trading volumes of tech heavyweights Apple (AAPL), Amazon (AMZN), and Meta (META), highlighting the market’s growing enthusiasm for MicroStrategy’s BTC-centric strategy.

Unprecedented moment

Data shared by investment expert HODL15Capital showed that MicroStrategy had the third largest 24-hour trading volume behind Nvidia (NVDA) and Tesla (TSLA).

However, the figure was nearly three times that of Apple, in fourth place, which raised just under $8 billion. Fellow tech titans Amazon and Meta posted more modest amounts of $6.32 billion and $5.11 billion, respectively.

Some analysts have attributed MSTR’s trading frenzy in part to MicroStrategy’s dual-leverage exchange-traded funds (ETFs) launched in early August. The ETFs collectively manage about $3.8 billion in assets and have provided more than $7.7 billion in leveraged exposure to MSTR stock.

In a recent post on X, investment advisor Will Hershey singled out these ETFs as critical drivers of MicroStrategy’s outperformance. Since its debut, MSTR’s market cap has soared 237%, far outpacing Bitcoin’s 61% rise over the same period. Additionally, the cryptocurrency’s recent rally, which includes multiple all-time highs, has also fueled the stock’s momentum.

Recorded Bitcoin purchases strengthen MicroStrategy’s position

MicroStrategy’s pivot to BTC began in 2020 as a hedge against macroeconomic instability. Since then, it has pioneered Bitcoin’s corporate treasury model, inspiring other companies, such as Japan’s Metaplanet, to follow suit.

Some of the company’s biggest crypto purchases include $1.026 billion spent on 19,452 BTC on February 24, 2021, and $2.03 billion used to buy 27,200 coins on November 11, 2024. Its latest purchase of 51,780 BTC at a price of $4.6 billion was positioned on MicroStrategy. the largest corporate holder of Bitcoin, with no less than 331,000 coins on its books.

Market watchers have noted that the company’s purchases of Bitcoin often correlate with increased volatility in the currency’s price. For example, its last run briefly caused a drop before the asset rebounded to new highs.

At a recent X Space event, the company’s executive chairman, Michael Saylor, revealed that he had been invited to make a brief presentation to Microsoft’s board of directors to discuss investing in Bitcoin.

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