The Influence of MicroStrategy on the Price of Bitcoin $BTC
In addition to market uncertainty, the purchases of Bitcoin by MicroStrategy continue to impact the company. Michael Saylor recently suggested that the company may add more BTC to its assets, leading to speculation that another purchase could bring Bitcoin closer to its target of $100,000.
Saylor's management of the company has received praise as a model for managing volatile markets. Despite the exposure to Bitcoin assets, Saylor has maintained MicroStrategy's stability throughout the 2022 bear market.
Recently, the company completed a $3 billion convertible bond offering at a 0% rate, further demonstrating its commitment to Bitcoin, with a conversion price of $672 per share. These bonds, which are priced at a 55% premium to the current share price of MicroStrategy, will generate profit only if the company's stock rises.
