Author: Alex O’Donnell, CoinTelegraph; Compiler: Baishui, Golden Finance
According to data from MSTR Tracker, MicroStrategy’s Bitcoin buying spree has earned more than $17 billion in unrealized profits.
MicroStrategy was originally a software company. Since 2020, as part of founder Michael Saylor’s unconventional corporate funding strategy, the company has purchased more than $23 billion worth of Bitcoin, according to data from the MicroStrategy database MSTR Tracker.
These purchases have paid off. Data shows that On December 4, the price of Bitcoin exceeded $100,000 per coin for the first time in history, and MicroStrategy’s Bitcoin holdings are worth more than $40 billion.
Source: MSTR Tracking
MicroStrategy’s stock performance is even stronger than BTC’s spot price. MSTR shares are up more than 475% so far this year, outperforming nearly every stock in the S&P 500, according to data from Google Finance and Slickcharts.
As of Dec. 5, MSTR said its total market capitalization was about $92 billion, more than three times the value of the company’s bitcoin holdings.
Analysts say the stock has further to go as MicroStrategy’s acquisition spree accelerates. As of Dec. 5, the company held about 400,000 bitcoins, according to data from MSTR Tracker.
On November 25, Benchmark Financial Technology analyst Mark Palmer noted that he raised his price target on MSTR from $450 per share to $650. The stock is currently trading at around $394 per share, according to Google Finance.
Source: MicroStrategy
In its Aug. 1 earnings call, MicroStrategy doubled its Bitcoin purchases by committing to a unique performance metric: Bitcoin Yield.
Bitcoin Yield measures the ratio of Bitcoin holdings to shares outstanding and effectively uses Bitcoin per share as a benchmark for corporate performance.
On October 30, the company revealed plans to raise $21 billion in equity and another $21 billion in debt to finance a three-year, multibillion-dollar Bitcoin acquisition spree dubbed “Project 21/21.”
MicroStrategy’s controversial strategy has attracted many critics, but its outsize impact on the company’s stock price provides ample reason to be proud of it, as MicroStrategy’s stock has outperformed nearly every major company in the U.S. over the past four-plus years,” Palmer said.
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