What’s Next For Bold Bitcoin-Buyer MicroStrategy?
After a year of borrowing and buying, what’s the outlook for the bitcoin bulls at MicroStrategy?MicroStrategy (MSTR) currently sits on a huge loss on their bitcoin purchases. Based on a current bitcoin price of $20,300, their 129,699 aggregate bitcoin holdings are worth $2.6 billion, down from a total purchase cost of roughly $4 billion (average cost $30,700). Hence they are sitting on unrealized losses of ~$1.4 billion on their purchases.The last couple of years have been a wild ride for MSTR shareholders, and ironically, the share price ($186) doesn’t sit that far above the share price....
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MicroStrategy's massive push into Bitcoin is paying off, with shares skyrocketing and huge new investment from Morgan Stanley. Per a filing with the Securities and Exchange Commission released on Jan. 8, investment bank Morgan Stanley had acquired 792,627 shares in business intelligence firm MicroStrategy. The investment represents a 10.9% stake in a firm that has made massive investments in Bitcoin over the past several months. The purchase apparently happened on Dec. 31. MicroStrategy has had a colossal month, seeing its shares move from $289 on Dec. 8 to $545 as of Jan. 8. Source:....
A further commitment to its treasury sees MicroStrategy join Grayscale as this week's big buyer while others keep selling. Bitcoin (BTC) showed signs of a resurgence on Jan. 22 after a trip below $30,000 produced fresh buyer support.BTC price seals 8.5% daily bounceData from Cointelegraph Markets and TradingView showed a stronger trading day for BTC/USD on Friday, with daily gains at 8.5% at the time of writing.The turnaround follows a turbulent 24 hours in which Bitcoin slid to $28,950 — a key level when it comes to support from whales and only its second dip below $30,000 this....
MicroStrategy's debt raise resulted in an estimated $639 million for bitcoin purchases.
In a strategic move, MicroStrategy, the business intelligence (BI) company, and its subsidiaries have made a bold financial maneuver by increasing their Bitcoin (BTC) holdings. MicroStrategy Bolsters BTC Holdings According to a recent filing with the US Securities and Exchange Commission (SEC), MicroStrategy has expanded its Bitcoin holdings by acquiring an additional 5,445 BTC, totaling approximately $147.3 million. The average purchase price for these Bitcoins was $27,053 per unit. Related Reading: Ethereum Funding Rates Turn Deep Red, What Does It Mean? With this latest acquisition,....
The cryptocurrency industry has experienced significant growth in recent weeks with an influx of capital. This influx of capital has forced Bitcoin over various price resistances, with the latest being a brief cross over the $37,000 level. MicroStrategy has emerged as a prominent public company that has successfully capitalized on this price push. MicroStrategy’s blockbuster bet on the world’s largest cryptocurrency has certainly paid off so far. The company has posted over $1 billion in unrealized profit thanks to Bitcoin’s 36% increase from $26,750 since October 13. Shares of....