MicroStrategy Boosts Bitcoin Holdings With $458M Purchase, Upsized Convertible Note Offering to $1B
With the latest acquisition, the company now holds 252,220 bitcoin worth nearly $16 billion at current prices.
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With the latest acquisition, the company now holds 252,220 bitcoin worth nearly $16 billion at current prices.
The company is the largest corporate bitcoin holder with 244,800 bitcoin worth over $14 billion in its treasury.
The broker raised its year-end price target for the software company to $2,150 from $1,875.
MicroStrategy reported second-quarter earnings on Thursday.
The Japanese investment adviser said it acquired more than 20.2 BTC.
Bloomberg ETF analyst Eric Balchunas said this will be the ‘ghost pepper’ of ETF hot sauce.
The company held 214,400 bitcoins as of the end of April, which at current prices would be worth about $14 billion.
MicroStrategy (NASDAQ: MSTR), currently trading at approximately $1,495.54, has experienced a remarkable year-to-date increase of 118.28%. This surge is fueled … Continue reading
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The proceedings of the issuance will be used to acquire more bitcoin and for general corporate affairs.
Bitcoin has significant upside potential this month thanks to two big catalysts and Michael Saylor’s MicroStrategy (MSTR) stock could surge, too, on its way toward getting “meaningfully higher” by the end of the year, TD Cowen analyst Lance Vitanza said in a note Monday.