Despite #MarketVolatility , #MicroStrategy 's " $BTC per Share" reaches near record levels
MicroStrategy (MSTR) has recently faced a downturn in its stock price, currently hovering around $1,260 per share, down by 35% from its recent peak of nearly $2,000. This decline mirrors Bitcoin's (BTC) 8% pullback over the same period.
Despite the recent dip, MicroStrategy's stock has demonstrated stronger performance year-to-date, with MSTR registering an 84% increase compared to BTC's 44% gain. Data from the MSTR-tracker reveals the "MSTR/BTC Ratio" chart, indicating the relative value between MicroStrategy's stock price and Bitcoin's price. The ratio peaked at around 0.028, similar to its 2021 high, but has since retreated to 0.02.
Moreover, the "NAV Premium" chart provided by MSTR-tracker, which showcases the premium of MicroStrategy's stock over its Bitcoin-based Net Asset Value (NAV), has declined from approximately 2.3 to 1.4. This decline suggests a decrease in the market's valuation of the company's stock compared to its Bitcoin holdings.
However, a critical metric for analyzing MSTR is "BTC per Share," representing the amount of Bitcoin each outstanding share of MicroStrategy corresponds to. According to MSTR-tracker, this metric is currently near all-time highs at 0.012. This figure indicates that investors are accruing more Bitcoin per share over the long term.
Source - cryptoslate.com
