This year, the corporation's shares have increased in value by more than 350%. Currently they are at $654, which is 8.3% compared to the previous day. According to industry experts, such a significant increase in securities is due to the general excitement that is observed around the potential approval of spot Bitcoin ETFs in the United States.
According to current data, MicroStrategy owns 189.15 thousand. Bitcoin coins totaling about $6 billion. The average purchase price of the flagship crypto asset is $31.16 thousand. BTC. Analysts from Seeking Alpha reported that the corporation manages to finance its purchases through the active issuance of securities on the global market.
It is noteworthy that in September of this year, MicroStrategy’s debt obligations to creditors were estimated at $2.5 billion, which is 7.7% lower compared to the previous year. Experts emphasized: “The company’s senior non-convertible bonds will mature no earlier than December 2025. From this point of view, it is unprofitable for Michael Saylor to invest in fiat money, since it is subject to the influence of inflation. Instead, he invests in a liquid crypto asset that is deflationary in nature.”
Since the beginning of this year, Bitcoin has increased in value by over 160%. This dynamic was greatly influenced by the positive sentiment among trading participants regarding the imminent approval of industry ETFs.
The SEC is expected to ratify the relevant applications by January 10, 2024. Against this background, institutional investors and large companies will have a safe way to invest in the cryptocurrency segment. This will trigger an influx of additional liquidity into the market, which will provide additional support for the flagship digital coin.