MicroStrategy stock ≈ Bitcoin ETF？
MicroStrategy, the business-intelligence software company that holds so much bitcoin on its balance sheet, has become something of a proxy for the world's biggest cryptocurrency. The company said it added almost 9,000 bitcoins to its holdings in the the third quarter, bringing its total to 114,042.
At current prices: 114,042 BTC = $61,900 * 114,042 ≈ $7.05 billion
MicroStrategy's market cap ≈ $7.50 billion
MicroStrategy's market cap ≈ $7.50 billion
The company's bitcoin holdings are worth just over $7 billion, while its entire market capitalization is roughly $7.5 billion...
Does that mean MicroStrategy stock is almost equivalent to Bitcoin ETF？![]()
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On Thursday, MicroStrategy CEO Michael Saylor also retweeted a previous tweet of his from Oct. 28, 2020 revealing that he personally owned 17,732 bitcoin that he purchased for an average price of just under $10,000. He added the comment that "you do not sell your #bitcoin," implying that he still owned all those coins. At current prices, they would be worth roughly $1.1 billion. ![]()
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Mooers, what do you think? ![]()
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Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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DarrenDaDream : yes
raktim07 : Which Hedge Fund is going to publish you to publish this? Retail buy high price share from a company who loose value when is Bitcoin Falls?
MOOO IS THE NEW JIM CRAMER
JakeJin : A very smart company. The company's stock price should be closely linked to Bitcoin. However, the company has operating expenses.
Chatterbox MooOP raktim07: just fun facts moomoo thought would be interesting to know
stocknewb : Please read up on Michael Saylor and his company. You can watch it on “Coffeezilla” YouTube channel. He did some research on him. Not sure why Futu would promote his company
Chatterbox MooOP stocknewb: hey. just fun facts we thought would be interesting to know. not promoting the company or stock
kuppp : nice
unabashed Badger :
xremy : Everything goes up..
pontianak : Bitcoin is the digital tulips
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