82 days ago • Posted by William Ramstein

MicroStrategy to increase BTC holding by $600M

At the current price of about $49,000, MicroStrategy can buy about 12,250 coins for its $600 million. Add that to the nearly 71,000 coins it said it owned as of Feb. 8 and it has more than 83,250. With about 7.6 million shares outstanding, each share would be entitled to 0.011 Bitcoin. MicroStrategy trades for $955 a share, up from $135 on Aug. 11, when it announced its first foray into crypto. Crudely attributing the $820 difference to its new Bitcoin business would mean an investor who bought today would pay about $75,019 per Bitcoin. Source: Bloomberg