Buy MicroStrategy Stock With Bitcoin, Blockstream CEO Adam Back Suggests
Blockstream co-founder and CEO Adam Back has emphasized the growing recognition of MicroStrategy Inc.’s increasing Bitcoin per share. In light of this, he advises investors to purchase MicroStrategy stock using Bitcoin.
MicroStrategy is Succeeding
Back’s comments come in response to Ecoinometrics’ analysis, which highlights MicroStrategy’s stock price performance in relation to Bitcoin. The business intelligence and software company has been winning in this area.
Others are starting to notice that the bitcoin share of MicroStrategy is increasing over time. The ATM buys are anti-dilutive, reduce debt ratio, and there is leverage that “wins” as the price of bitcoin rises. My quiet strategy for a while: buy MSTR using BTC…
– Adam Back (@adam3us) December 2, 2023
MicroStrategy’s recent attention is not surprising, given its ongoing accumulation of Bitcoin as part of its Treasury Reserve Allocation policy. The company recently acquired 16,130 BTC for approximately $593.3 million, bringing its total Bitcoin holdings to 174,530 BTC.
Considering the current price of Bitcoin at $38,875.79, MicroStrategy is in a profitable position with its holdings.
MSTR vs Bitcoin Performance
Bitcoin has been experiencing positive momentum, approaching $40,000 and reaching a new high for 2023. MicroStrategy’s substantial Bitcoin holdings allow the company to cover its convertible notes debt. Additionally, MicroStrategy’s stock price is performing well, further validating Michael Saylor’s Bitcoin strategy.
About the Author
Benjamin Godfrey is a blockchain enthusiast and journalist who writes about real-life applications of blockchain technology. His aim is to drive general acceptance and integration of blockchain technology. Follow him on Twitter and LinkedIn.
Note: The views expressed in this article are the personal opinion of the author and are subject to market conditions. Do your own research before investing in cryptocurrencies. The author and the publication are not responsible for any financial losses.
