The largest holder of Bitcoin, MicroStrategy has finished gathering $3 billion by offering zero percent convertible senior notes, maturation due in December 2029, available information notes that either the company will use a portion or full collected amount to buy Bitcoin to follow its BTC investment strategy.
Following the announcement from MicroStrategy a sudden decline in the trading prices of MSTR stock was observed in the November 21 trading session.
In the last trading session, MicroStrategy stock saw a decline and closed at $397.28 losing $76.55. Yet before opening on November 22, the pre-market data shows that an addition of $4.99 is expected in its trading prices.
It is worth noting that the senior convertible notes came at a premium of 55 percent along with an implied strike price of roughly $672. Its name includes the word ” senior” which means they are above the common stock and holders of this will get priority due to liquidation/ bankruptcy.
If MicroStrategy decided to buy Bitcoins from entire raised funds then it could roughly buy 30,600 BTCs. It is important to note that Bitcoin prices have outperformed reaching new heights when writing it was trading above the mark of $97k with a weekly growth of 10 percent.
The head of MicroStrategy, Michael Saylor recently disclosed that he is gearing up to give a three minutes presentation in front of the Microsoft board, if the company agrees to invest in Bitcoin there are chances that cryptocurrencies might get much traction as Microsoft is one of the leading technological giants globally.
Could MSTR Cross $400 till 2025 Beginning?
After MicroStrategy announced its Bitcoin investment strategy its stock prices saw a never-before growth, surpassing its annual price target.
Despite the intraday decline the performance of MSTR price has been largely praised as it grew more than 18 percent in the weekly time frame and 80 percent in the past 30 days.
Source: TradingView
As of writing, the trading prices of MicroStrategy stock were above 20, 50, 100, and 200-day exponential moving averages. However, its growth is largely criticized by some traders and analysts terming the MSTR as an overvalued stock and a ‘bubble’ that might burst any day.
On the other hand, some see MSTR as one of the potential stocks that might soon reach close to Apple and Nvidia. MicroStrategy’s capitalization was $89.25 billion, which grew more than 750 percent in 2024 compared to that in 2023.
Bitcoin would soon surpass $2 trillion in market capitalization!
Since the beginning of this year, Bitcoin prices have seen many upsurges, and after the historical victory of Donald Trump, it successfully surpassed its ATH crossing the much-awaited mark of $80k.
Source: TradingView
According to data from CoinMarketCap, the market capitalization of Bitcoin has surged over 46 percent in the past 30 days and 135.17 percent in the YTD frame. Until publishing it was at $1.95 trillion and it is soon expected to cross the milestone of $2 trillion, which will make it bigger than the economies of nations Brazil and Canada.
In terms of market capitalization and prices Bitcoin stands at the top followed by Ethereum with $407 million in market cap and USDT has 130.87 billion in cap.
