MicroStrategy bought 2.6% of circulating bitcoin at $67,458 apiece
According to Michael Saylor’s latest announcement, the world’s largest bitcoin holding company now owns 528,185 BTC. That is more than 2.6% of bitcoin’s circulating supply. Personally, Saylor also owns at least 17,000 additional bitcoin. Combined, therefore, he and the company he founded own over 2.7% of bitcoin’s $1.6 trillion market capitalization. MicroStrategy, doing business as Strategy, is a highly leveraged speculator on bitcoin’s price. Strategy currently owes $8.2 billion in US dollar-denominated debts. In addition, Strategy has dividend obligations to two preferred series of shareholders, STRK and STRF. Michael Saylor’s Strategy makes up metrics to explain MSTR dilution Read more: Michael Saylor suggests selling kidneys as bitcoin dips below $80K Blessed with an avid fan base of investors who think that the bitcoin-acquiring company is worth more than the bitcoin it has acquired, its MSTR common shares trade at a curious premium to the assets that back ...