Microstrategy's game
After several days of continuous surge, Microstrategy's market value exceeded 100 billion US dollars. This company can be said to be nothing except the Bitcoin it holds
The Bitcoin it holds is currently worth 35 billion US dollars. The principal for purchasing Bitcoin is about 20 billion US dollars, and it has earned 15 billion
That is to say, the company's price-to-book ratio is 3 and the price-to-earnings ratio is 6.5
At first glance, this financial data can be said to be a very good listed company. . . But considering that the main business of this company is to borrow money to buy Bitcoin. . .
It feels weird. . According to our Chinese thinking, it is speculation and not doing business properly. I am afraid there will be no good end. . .
But we don't need to worry about Microstrategy. The executives bought the company's stock at a price of 17 US dollars and sold it at a price of 350 dollars. . .
Tens of millions have been earned. . .
BTC has been very bullish these days, but Microstrategy is even more bullish. BTC rose by 2 points, while it will rise by 10 points or 15 points.
But yesterday, that is, on the night of December 21, Microstrategy, which still rose by 10% before the market opened, fell all the way after the opening, and finally closed down by 16 points.
I said in the previous article that
There are two key points in the current BTC bull market:
1 When will BlackRock sell its shares?
2 When will Microstrategy fall?
Today, BTC rushed to a height of 99420, just one step away from 100,000.
I still think that today, that is, on the night of November 22, Friday, after the US stock market opens, the bulls will break through the 100,000 mark.
The market after the breakthrough must be extremely exciting.
