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MicroStrategy stock ≈ Bitcoin ETF？

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Chatterbox Moo wrote a column · Oct 29, 2021 10:21
$MicroStrategy (MSTR.US)$ adds almost 9,000 Bitcoins to its holdings in third quarter.
MicroStrategy, the business-intelligence software company that holds so much bitcoin on its balance sheet, has become something of a proxy for the world's biggest cryptocurrency. The company said it added almost 9,000 bitcoins to its holdings in the the third quarter, bringing its total to 114,042.
At current prices: 114,042 BTC = $61,900 * 114,042 ≈ $7.05 billion
MicroStrategy's market cap ≈ $7.50 billion
Source: MOOMOO
Source: MOOMOO

The company's bitcoin holdings are worth just over $7 billion, while its entire market capitalization is roughly $7.5 billion...
Does that mean MicroStrategy stock is almost equivalent to Bitcoin ETF？
MicroStrategy stock ≈ Bitcoin ETF？
On Thursday, MicroStrategy CEO Michael Saylor also retweeted a previous tweet of his from Oct. 28, 2020 revealing that he personally owned 17,732 bitcoin that he purchased for an average price of just under $10,000. He added the comment that "you do not sell your #bitcoin," implying that he still owned all those coins. At current prices, they would be worth roughly $1.1 billion.
Mooers, what do you think?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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Chatterbox Moo
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