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re: Anyone buying MicroStrategy Inc (MSTR)?
Posted on 3/13/24 at 6:01 pm to umrebel2009
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)
1
Posted on 3/13/24 at 6:27 pm to TigerTatorTots
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