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re: Anyone buying MicroStrategy Inc (MSTR)?
Posted on 3/13/24 at 5:08 pm to Double Oh
Posted on 3/13/24 at 5:08 pm to Double Oh
For anyone keeping up, Michael Saylor just bought like $200 million more in Bitcoin on Microstrategy's books.
He's also announced proposal for private offering of $500 Million of convertible senior notes... to buy more Bitcoin with.
Everytime Bitcoin goes up 1% Microstrategy seems to go up around 10%
He's also announced proposal for private offering of $500 Million of convertible senior notes... to buy more Bitcoin with.
Everytime Bitcoin goes up 1% Microstrategy seems to go up around 10%
This post was edited on 3/13/24 at 5:09 pm
Posted on 3/13/24 at 6:01 pm to umrebel2009
Last week he did $800 million in convertible notes and bought bitcoin over the weekend
Just today he announced another $500 million in convertible notes to purchase bitcoin soon
There is a 20% short interest on the outstanding shares that have been in place since around $400 share price. Consensus is the shorts have a couple options: 1) buy shares to close their shorts (share price goes up) or 2) buy Bitcoin to hedge their short (BTC price goes up, thus MSTR price goes up, thus turning the screws further)
Just today he announced another $500 million in convertible notes to purchase bitcoin soon
There is a 20% short interest on the outstanding shares that have been in place since around $400 share price. Consensus is the shorts have a couple options: 1) buy shares to close their shorts (share price goes up) or 2) buy Bitcoin to hedge their short (BTC price goes up, thus MSTR price goes up, thus turning the screws further)
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