-based MicroStrategy now holds a total of 125,051 bitcoins , valued at about $4.8 billion at the current bitcoin price of $38,700.
Read moreHow is bitcoin MSTR correlated?
The upside outlook for MSTR appears as it continues to stay positively correlated to Bitcoin (BTC) , a highly volatile cryptocurrency propagated as “digital gold” by its hardcore enthusiasts. MicroStrategy owns 105,085 BTC worth around $5.23 billion as Bitcoin’s price returns to $50,000.2 Eyl 2021
Read moreIs MSTR a good way to invest in bitcoin?
MicroStrategy has recognized Bitcoin as a legitimate investment asset that can be superior to cash and accordingly has made Bitcoin the principal holding in its treasury reserve strategy.
Read moreHow much bitcoin does MSTR own?
The company paid an average price of $49,229 per bitcoin, it said in a statement. As of Dec. 29, MicroStrategy held about 124,391 bitcoins purchased at an average price of $30,159. Bitcoin is currently trading about $47,500, valuing the trove at $5.9 billion .
Read moreIs MSTR a proxy for bitcoin?
MicroStrategy, which made bitcoin acquisition a second mandate earlier this year, had since become a sort of bitcoin-proxy investment for investors looking for exposure to crypto.
Read moreDoes MSTR track bitcoin?
With favorable conditions in the long run, MSTR will leverage up against the Bitcoins and lend it to a strong counterparty. MSTR’s net change in cash in Q3 2021 was $4.2 million after the company used up almost $400 million buying Bitcoins in 2021.
Read moreWill MSTR buy more bitcoin?
MicroStrategy will continue buying bitcoin this year , Mr. Le said, though it is unclear if it would buy more than it did last year; the company has no plans to sell the asset.
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