MicroStrategy stock is best acquired with Bitcoin, per Adam Back
The post MicroStrategy stock is best acquired with Bitcoin, per Adam Back appeared on BitcoinEthereumNews.com.
Blockstream co-founder and CEO Adam Back has reiterated the fact that many experts are beginning to take cognizance of MicroStrategy Inc.’s constantly increasing Bitcoin per share. Based on this, he advised that investors to buy MicroStrategy stock with Bitcoin. MicroStrategy is Winning Back’s X post came as a reaction to an earlier insight from Ecoinometrics which pointed out that the business intelligence and software firm is winning as it relates to a chart showing MSTR’s stock price performance concerning the current performance of flagship cryptocurrency Bitcoin. others starting to notice that btc/share of microstrategy is increasing over time. they ATM buys are slightly anti-dilutive, reduce debt ratio, plus there is leverage which “wins” as btc price goes up. my quiet strategy for a while: buy MSTR using BTC… https://t.co/XADHIBks91 — Adam Back (@adam3us) December 2, 2023 The attention that MicroStrategy is getting presently does not come as a surprise especially as the firm has been raking in more Bitcoin in line with its Treasury Reserve Allocation policy. A few days ago, the Bitcoin-friendly firm purchased of 16,130 BTC at approximately $593.3 million. Each unit of the new Bitcoin acquisition had an average price of $36,785. Markedly, the purchase brought the current Bitcoin holding of MicroStrategy to a total of 174,530 BTC, considering that the firm had earlier bought 155 units of Bitcoin for $5.3 million as announced in November. As of November 29, MicroStrategy’s Bitcoin portfolio holds as much as 174,530 units of BTC valued at approximately $5.28 billion at an average price of $30,252 per Bitcoin. With the current price of Bitcoin at $38,875.79, the firm is in a major profit on its stack. MSTR vs Bitcoin Performance Bitcoin has been on a positive momentum for the last few weeks, driven by some events including the evolving anticipation for spot…
Filed under: News - @ December 2, 2023 11:12 pm