Since the second half of this year, as part of the portfolio and significantly increased positions in MSTR after the US presidential election, it has resulted in a valuation gain of over 0.12 million dollars at present.
As for future plans, profit-taking on part or all and position adjustments will be made. At this stage, it is not a pessimistic outlook but a response to the fact that the positions have become significantly larger than the risk tolerance, depending on the market for profit-taking timing and adjustment amounts.
In the current analysis, MSTR holds over 0.33 million BTC through funding via convertible bonds and buying more, significantly exceeding 1% of the current total circulation of Bitcoin, making it the top public company. When converted at 0.09 million dollars per BTC, it is about 30 billion dollars, and it is not difficult to imagine that the Bitcoin price directly reflects on the stock price of MSTR considering the market capitalization. The current 2nd place, MARA, which has also announced plans to acquire Bitcoin with part of the funding from bond issuance, is observed under a similar situation.
On the other hand, in response to the appreciation of Bitcoin, MSTR's stock price increase seems to be relatively leveraged...