He stated that the potential for MicroStrategy’s stock price growth is basically limitless.
He also believes that MicroStrategy’s stock “literally has no top.”
As of now, MicroStrategy holds a total of 226,500 Bitcoin tokens, a Bitcoin acquisition that followed the previous one made in the middle of June. In fiat, this is the equivalent of approximately $14,659,329,150 at the present exchange rate. This purchase was disclosed on July 31. The overall amount was bought for $8.3 billion at an average price of $36,821 per coin.
MicroStrategy’s (MSTR) share price dropped by 6.5% in a trading session before the company revealed its second-quarter earnings on Thursday. MSTR fell alongside a major decline observed on both stock and cryptocurrency markets. Still, in the past year, MSTR had seen a 3x increase, while the Bitcoin price surged 2x during the same period.
Earlier this year, MicroStrategy raised money twice for additional allocation to Bitcoin by offering debt to investors. In March, they raised $500 million, but in the summer they started with the same goal but then increased it to $700 million. According to Chinese cryptocurrency journalist Colin Wu, the company plans to raise around $2 billion again to increase its Bitcoin bet even more.
Earlier today, Michael Saylor published a tweet, in which he showed how Bitcoin has helped it to surpass other tech companies by share price greatly.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
