MicroStrategy rides 'red sweep' to 477% gain in 2024, topping almost all U.S. stocks

On the eve of MicroStrategy’s 1998 stock market debut, founder Michael Saylor stayed at the Lotte New York Palace, with Merrill Lynch covering the costs, before watching the stock open on the Nasdaq the next morning. MicroStrategy’s shares rose 76%, kicking off the dot-com boom. In 2024, Saylor urged Microsoft to invest in bitcoin, with MicroStrategy already holding $42 billion worth of the cryptocurrency, leading to a market cap increase from $1.1 billion to $82 billion.

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