Shares of MicroStrategy (Strategy) were down 3.31 percent in intraday trading today at $223.38, according to Coinglass data.
While the company's market capitalization is estimated at approximately $65.34 billion, this figure falls short of the estimated market value of its 641,692 Bitcoin holdings (approximately $66.59 billion). This caused MSTR shares to briefly trade at a “discount” to the net value of its Bitcoin holdings.
According to MicroStrategy data, the company holds a total Bitcoin balance of 641,690, with an average purchase price of $74,080. With Bitcoin prices rising, the company is currently at a profit of approximately 39%.
MicroStrategy (MSTR) shares typically trade at a premium to the company's Bitcoin holdings. This means investors are pricing in not only its Bitcoin reserves but also Michael Saylor's strategic management, potential future Bitcoin purchases, and the company's software revenue. This suggests that market participants currently consider buying Bitcoin directly more logical than buying Strategy stock.
*This is not investment advice.
