Michael Saylor's Strategy (MSTR), formerly known as MicroStrategy, closed Wednesday with an all-time high market capitalization of $128.4 billion, the same week Bitcoin reached its record-high price north of $122,000 . Strategy's stock closed Wednesday's trading session up 3% at $455.90 per share, Nasdaq data shows .
MSTR returns increased 36% in the past three months and soared 174% within the past year . Strategy is the largest corporate holder of Bitcoin, holding 601,550 BTC (valued at over $73 billion) as of July 14 and owning 2.86% of Bitcoin's total supply .
Despite setting a new market cap record, MSTR is trading 19% below its all-time high of $543, reached on Nov. 20 . The firm has continued to issue stock to raise funds for its Bitcoin accumulation strategy .
Investment advisor Vanguard Group — through its various funds — was recently revealed to be Strategy's largest shareholder, despite Vanguard previously calling Bitcoin an "immature asset class."
Strive Funds Bitcoin Strategy vice president Jeff Walton said in an X post on Wednesday that it is the 11th day of Strategy qualifying for the S&P 500 . In May, during the Financial Times documentary Michael Saylor's $40 Billion Bitcoin Bet, Walton predicted that the Strategy would become the “number one publicly traded equity in the entire market” because of its future financial strength enabled with Bitcoin .
The company announced in a Monday US Securities and Exchange Commission filing that they acquired 4,225 Bitcoin for $472.5 million last week . Strategy will release its latest earnings report on Aug. 5 . The firm has reported net losses for the past three quarters .