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MetaPenguin Male ID: 102445661
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    MetaPenguin commented on
    $MSTR.US$ 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
    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?
    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?
    MicroStrategy stock ≈ Bitcoin ETF?
    MicroStrategy stock ≈ Bitcoin ETF?
    14
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