They want to bet on Bitcoin – The society MicroStrategylisted on the stock exchange (share MSTR), began to accumulate bitcoins continuously since August 2020. And despite the crypto winter currently gripping the industry, other big players keep showing up very interested by Bitcoin. This is the case of the giant Group Onewhich by providing for the purchase of a large number of shares in MicroStrategy, is indirectly betting on the king of cryptocurrencies.
>> You don’t trust the platforms to keep your cryptos? Ledger has the solution (commercial link) <<
A $240 million bet on MicroStrategy (or Bitcoin, it’s kind of become the same thing)
The society MicroStrategyfounded by Michael Saylorhas been able to accumulate a veritable war chest in bitcoins: approximately 132,500 BTC ! Either more than 2.3 billion dollars at the current rate. In other words, the share price MSTR of the company, listed on the Nasdaq stock exchange, is now intimately linked to the good health of Bitcoin.
And, these actions have also become a indirect means of exposure most valued crypto-assets. The Trading Giant Group One seems to have fully understood this. As Bloomberg reports in particular, the trading company has taken a buyer bet on MSTR shares.
Group One has indeed subscribed to options to acquire 1.3 million shares from MicroStrategy, for a value of $240 million. This represents approximately 13.5% of all MSTR actions.
To give an idea of the relationship between Bitcoin and MicroStrategy, you have to see how much the MSTR stock price has fell with the price of BTC in 2022 (after they rose sharply together in 2021). Shares of Michael Saylor’s company fell from a high of $530 early 2022, to a recent low below $135 end December.
At the time of this writing, however, the MSTR stock has slightly pulled together (just like the course of Bitcoin for that matter). Its course thus rose to $190, a nice +40% all the same in less than 15 days. While it is still far too early to anticipate a next bitcoin bull marketMicroStrategy on the other hand seems almost sure to benefit if it occurs. Just like companies that have invested (or bet with options) in MSTR shares.
In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!