$MicroStrategy(MSTR)$ Microstrategy Breaks 2021 Highs Impulsively
$MicroStrategy(MSTR)$ stock jumps 23% as it unveils $600m offering to buy more Bitcoin.
$MicroStrategy(MSTR)$ stock price is up more than 170% over the past month compared to BTC's 56%.
The company has outperformed Bitcoin by more than 3x.
MicroStrategy chairman @saylor has retained his bullish Bitcoin stance, stating he will continue to buy the world's biggest cryptocurrency forever, adding that the cryptocurrency is stronger than gold.
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In a statement on 4 March, MicroStrategy revealed that it intends to raise $600 million to buy more Bitcoin.
The funds will be issued in the form of senior convertible notes which are set to mature on 15 March 2030.
The company currently holds 193,000 $BTC as of February 2024.
In August of 2020, $MicroStrategy(MSTR)$ had a $1.5 billion market cap and a share price of $123. Today, its market cap is $21.6 billion, and the stock is up 10x.
On March 1, 2024, Michael Saylor, the Executive Chairman and 10% Owner of $MicroStrategy(MSTR)$ , sold 5,000 shares of the company. The transaction was reported in a SEC Filing.
According to the GF Value, with a price of $1,028.87 and a GuruFocus Value of $253.74, $MicroStrategy(MSTR)$ has a price-to-GF-Value ratio of 4.05, indicating that the stock is Significantly Overvalued.
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