As Bitcoin continues to soar, assets giving investors exposure to the digital coin are getting snapped up—and fast. Software company MicroStrategy (NASDAQ: MSTR), the largest Bitcoin corporate treasury reserve holder, is the most active stock being traded so far Wednesday.

Data from TradingView shows that the company’s equity is right now more popular than Nvidia or Tesla stock by its metric. The most actively traded stock metric multiplies a company’s volume of traded shares by its price. 

Not only that, but MSTR hit a new all-time high price on Wednesday—as did the price of Bitcoin. MSTR rose as high as $499 on Wednesday and is currently priced at about $492 a pop, up 14% over the past day. Zooming out further, the stock has risen 124% over a 30-day period. 

Bitcoin’s price today surged to a new all-time high of $94,891, according to CoinGecko. The cryptocurrency has surged off the back of Republican Donald Trump’s November 5 election win. The President-elect has promised to be crypto-friendly and help the Bitcoin and digital assets space.

On Wednesday, MicroStrategy announced that it has super-sized its latest convertible notes offering, boosting it from $1.75 billion as announced Monday to $2.6 billion due to "high demand."

MicroStrategy now calls itself a “Bitcoin development company”: It sells data-analyzing software but it mainly now securitizes Bitcoin, the biggest and oldest digital asset. By buying virtual coins using debt, investors can then buy shares in the company and get exposure to the cryptocurrency. 

MicroStrategy’s co-founder and ex-CEO Michael Saylor, now its executive chairman, decided to have the company buy Bitcoin back in 2020 after COVID lockdowns began shutting down global economies.

His thesis was that Bitcoin was a “dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

The Tyson, Virginia-based firm now holds 331,200 Bitcoin—today worth nearly $31 billion. It is the largest corporate treasury reserve holder of the asset. 

Formerly a quiet software company, MicroStrategy’s stock has roared as the price of Bitcoin has appreciated: Since the first 2020 buy, MSTR is up over 3,900%, making it a favorite for tech investors. 

The company’s returns have beat all companies on the S&P 500; MicroStrategy is now the 88th biggest public company in the United States, with a market cap of $109.3 billion. MSTR just entered the top 100 on Wednesday with its latest price surge.

In a recent interview with journalist Natalie Brunell, Saylor said that he was despondent until he found Bitcoin—which eventually saved his company. 

“When I found Bitcoin, I was in despair,” he said. “I had worked for a decade. I had spent 20,000 man years attempting to do everything under the sun. I could not get ahead.”

“And then you realize, no—the system is rigged against you,” he added. 

Edited by Andrew Hayward