Strategy, the publicly traded company formerly known as MicroStrategy, has moved ahead of Saudi National Bank in market capitalization, placing it near the 385th position among global public companies.
Data from CompaniesMarketCap shows Strategy Inc.’s market capitalization sits at $63.99 billion; a step ahead from Saudi National Bank’s $61.96 billion, as of October 2, 2026.
The development underscores the scale of corporate Bitcoin holdings relative to established financial institutions. Saudi National Bank, formed through the 2021 merger of National Commercial Bank and Samba Financial Group, remains majority government-linked and ranks among the largest banks in the region by assets.
Market Capitalization Comparison
Equity valuations place Strategy’s capitalization near $64 billion after recent share-price movement, slightly above Saudi National Bank’s figure in the low-$60 billion range.
Strategy’s common shares (MSTR) shares closed at $160.50 on October 1, 2026, up 4.84% on the day, and traded near $165 in early activity on October 2, extending a sharp rebound from levels around $123 in early September, as per Yahoo Finance data.
Monthly chart from TradingView shows that the stock has gained roughly 30% over the past month amid continued Bitcoin accumulation and firmer digital-asset prices, yet it remains down more than 50% over the past year after peaking above $360.
Daily ranges have been wide, with volume frequently exceeding 15–20 million shares, reflecting MSTR’s high sensitivity to Bitcoin price moves, equity issuance, and preferred-stock activity. The 52-week range spans approximately $82 to $365, and the shares continue to function primarily as a leveraged proxy for the company’s Bitcoin treasury rather than its software operations.
Strategy’s position reflects its share price and outstanding share count as a Nasdaq-listed firm. Saudi National Bank’s valuation derives from its listing on the Saudi Exchange under ticker 1180, where it reports regular results as a full-service commercial bank.
Small differences can appear across trackers because of currency conversion, timing, and share-count methods, yet the two companies currently sit in close proximity. Strategy’s investor materials describe the firm as a Bitcoin treasury company offering equity and preferred securities tied to its digital-asset holdings.
Bitcoin Holdings and Capital Structure
Strategy’s valuation is closely linked to its Bitcoin position. Company updates show the firm held 847,666 BTC as of late September 2026, acquired for an aggregate cost of approximately $63.95 billion, or an average of about $75,437 per coin, following its latest purchase of 1,665 BTC.
Earlier in the month the company added 950 BTC, as noted in its ongoing treasury updates. Strategy also maintains several billion dollars in U.S. dollar reserves and cash to cover preferred dividends and debt while continuing selective accumulation.
Executive Chairman Michael Saylor has outlined the approach as long-term Bitcoin accumulation supported by common equity, preferred instruments such as STRC, and ongoing capital-markets activity, details of which appear in the firm’s capital structure framework.
Context for Institutional Bitcoin Exposure
The ranking places a Bitcoin-focused treasury company alongside a major government-linked bank in global market-cap tables. Saudi National Bank operates extensive retail, corporate, and institutional businesses across Saudi Arabia.
Strategy, by contrast, derives most of its enterprise value from the mark-to-market performance of its Bitcoin rather than conventional operating revenue. Corporate Bitcoin accumulation has expanded since 2020, and Strategy remains the largest publicly disclosed holder after successive additions documented in regulatory filings.
Further purchases and preferred-stock management continue to shape both the digital-asset stack and the firm’s liability structure. Market participants track how Bitcoin’s price, equity issuance, and preferred-stock activity influence Strategy’s capitalization relative to traditional financial institutions.
Also read: Elon Musk’s Tesla and SpaceX Still Hold Over 30,000 Bitcoin: Why Is He Not Selling?
