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Bitcoin up, MicroStrategy down over past 30 days

Bitcoin up, MicroStrategy down over past 30 days
MicroStrategy's leveraged bitcoin stock has disappointed traders returning from the holiday break, with BTC rallying 3% while MicroStrategy declined 12%. The company's value is now largely based on its BTC holdings, with a market cap 93% higher than the value of its BTC holdings. However, the company's Net Asset Value premium has been declining and it recently increased the number of authorized shares of Class A common stock. Some investors see this as an opportunity for the company to purchase more BTC and increase holdings per share. Despite this, MicroStrategy is trading 34% below its all-time high. Founder Michael Saylor recently hosted an extravagant New Year's Eve party while BTC was trading below $94,000. Saylor admitted to buying more BTC on December 30 and 31 but couldn't drive the price up to $100,000 before his guests arrived.

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