Re:Shorting Bitcoin
by mjol on Tuesday June 29, 2021 @01:22AM
(#27672111)
The losses from their bitcoin position can exceed their current market cap.
[ Parent
| on HN ]
Their Bitcoin holdings seems to add up to about half their current market cap, so that seems to make no sense.
EDIT: From [1]:
> “As of June 21st, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per Bitcoin, inclusive of fees and expenses.”
From [2]:
> Market cap: $6.08 Billion
So ~half, and average purchase price is still substantially below current BTC price.
[1] https://dailyhodl.com/2021/06/23/michael-saylors-microstrate...