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MicroStrategy Incorporated (MSTR)

NASDAQ
Currency in USD
Disclaimer
1,265.67
-72.97(-5.45%)
Closed
After Hours
1,252.00-13.67(-1.08%)

MSTR Comments

Their BTC holdings, minus their debt, comes to $211 per share, at $45,000 per bitcoin.91,850 btc (which MSTR holds), times $45,000 per btc (today's price, roughly) Equals $4,133,250,000 worth of btc... purchased while the company has a DEBT ("total liabilities") of $2,078,000,000 so: $4,133,250,000 - $2,078,000,000 = $2,055,250,000 worth of bitcoin equity... Now DIVIDE by the number of shares: $2,055,250,000 / 9,745,593 = $210.89 worth of bitcoin, per share, at today's bitcoin price, and with the number of bitcoin the news said they have, even updated since their last earnings report, according to CEO Michael Saylor, on May 13, on Twitter. The point is, you could get literally double the value, for your bitcoin investment, just buying bitcoin, directly, than getting exposure through MSTR. On the other hand, at least as of a couple of weeks ago, "they" were claiming that GBTC trades lower than its bitcoin equity is worth.
Sources: Bitcoin price, from this website, their bitcoin holdings, from their CEO's Twitter posts, their total liabilities, from their last earning's statement's balance sheet, on this website, their shares outstanding, from the "general" tab, on this website.
With a $1,000 value drop in bitcoin, today, that takes it down from $210.89 worth of btc, per share, to $201.46... a crude working math for this: roughtly a change of $9.43, in equity value change, per share, per $1,000 price change in btc... but that 'formula' would break, if some things happened, such as if they issued more shares, if they bought more btc, if they borrowed more money, or if they paid off debt.
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