MicroStrategy’s stock price rose by about 18% in two days, simultaneously with the update of the first cryptocurrency price records.
Data: MarketWatch.
At the close of trading on April 13, the MSTR price was $ 848.54. At this level, the company’s shares traded at the end of February after reaching a maximum at around $ 1272.94.
Before the opening of trading on April 14, the market estimates the MSTR quotes at $ 889.
In August 2020, MicroStrategy, a provider of business analytics software, was the first public company to convert a portion of its $ 250 million equity capital into the first cryptocurrency. At that time, the firm’s shares were trading around the $ 120 level.
The company continued to invest in bitcoin not only using its reserves, but also attracting debt financing. In December, MicroStrategy placed bonds in the amount of $ 650 million, in February 2021 – for more than $ 1 billion.
According to the Bitcoin Treasuries service, the company owns 91,579 BTC with a total value of about $ 5.9 billion. The firm’s capitalization is approximately $ 8.1 billion, the share in the indicator of assets in the first cryptocurrency reaches 73%.
Data: Bitcoin Treasuries.
Earlier, the largest UK bank HSBC confirmed a ban on the purchase of MicroStrategy shares through its HSBC InvestDirect platform. The representative of the institution said that the financial conglomerate “has no desire to invest directly in virtual currencies” and has limited interest in financial products associated with such assets.
Recall that on April 12, the MicroStrategy board of directors approved the procedure for paying remuneration in bitcoin.
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