CandleFocus No, MicroStrategy Not Selling 10 Billion Shares to Buy Bitcoin
2024-12-24
Author: Content Editor
MicroStrategy, the business intelligence firm led by Michael Saylor, is rumored to be planning to issue 10 billion MSTR shares to purchase $3 trillion worth of Bitcoin. However, Jeff Park from Bitwise Asset Management dismisses this speculation as unrealistic, given the immense size of the investment and the fact that the total market capitalization of Bitcoin is less than $2 trillion. Park also addresses concerns about MSTR's price performance relative to the crypto market, stating that even if Bitcoin's value drops significantly, MSTR will not crash to zero. He highlights MicroStrategy's multiple capital extension strategies and the undervalued nature of its shares. Additionally, Park advises investors to avoid being bearish with MSTR every time the price of Bitcoin drops, as the BTC price is currently rebounding.
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