Bitcoin Approaches $100,000, MicroStrategy's High Premium Sparks Market Debate
As the price of Bitcoin continues to advance towards the $100,000 mark, the market was shocked by the plummet of MicroStrategy (MSTR). Recently, the well-known Citron Research released a short report, claiming that MicroStrategy's market value has an unreasonable premium of up to 256% compared to the value of the Bitcoin it holds, which immediately drew widespread attention and concern from investors.
Currently, MicroStrategy holds 331,200 Bitcoins, and based on the current Bitcoin price of $97,600, its Bitcoin holdings are valued at approximately $32.325 billion. However, the company's stock price has soared to $474, with a market capitalization exceeding $115 billion. Such a huge premium undoubtedly raises questions about MicroStrategy's true value. In fact, Citron has begun to short MicroStrategy, even though they remain confident in the future of Bitcoin.
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