MicroStrategy / 4 posts found
MicroStrategy Reportedly Loses $1.8 Billion as Crypto Prices Plummet
MicroStrategy Inc, the largest corporate holder of Bitcoin, is reportedly sitting on $1.8 billion in unrealized losses from its purchases. The Tysons Corner, Virginia-based software company and its subsidiaries hold roughly 130,000 Bitcoin, worth around $2.2 billion at the current price. The Bitcoins were bought at an aggregate price of almost $4 billion, with each Bitcoin costing around $30,369. This now places the company $1.8 billion in the red. Can MicroStrategy continue hodling? Executive chairman Michael Saylor had previously said the company would never sell its Bitcoin. The refusal to sell means that the company sits on substantial paper losses. […]
MicroStrategy Wants to Hire Bitcoin Lightning Software Engineer
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MicroStrategy Plans to Raise Funds to Buy More Bitcoin
Business intelligence firm MicroStrategy may buy more Bitcoin with funds raised from selling some of its shares to Cowen and Company and BTIG. The company, which already has the largest Bitcoin holdings among publicly registered companies, wants to sell $500 million of its Class A shares to these investment firms. MicroStrategy Eyes More Bitcoin According to the prospectus sent to the Security and Exchange Commission (SEC), the company may use the proceeds to buy more Bitcoin. The Bitcoin-hodling company acknowledged the recent price swings that had seen the flagship asset drop below the $20,000 level, revealing that it has its […]
MicroStrategy Stocks Plunged 10% After a Downgrade to “Underporformance”
Cryptocurrency Jefferies analyst Brent Thill downgraded the software analytics provider to “underperform” from “hold” as the ongoing crypto shambles failed to demonstrate strong signals for a market reversal. The downgrade that categorized the stock from “hold” to “underperformance” maintained its price target at $180. Following the news and bitcoin dipping below $21,000 on Tuesday, shares of Microstrategy went down over 10% to $237. With the total market cap at $2.8 billion, MicroStrategy now holds 129,200 BTC worth approximately $2.7 billion. After spending nearly $4 billion on accumulating its stash, the NASDAQ-listed giant sits on an unrealized loss of a whopping […]