Bitcoin

Gains

Business intelligence firm Microstrategy (MSTR) has been leading by example on how can a company change its fortunes by betting big on Bitcoin. On Wednesday, February 28, the Microstrategy (MSTR) share price registered 10% gains for the second consecutive day closing at $962.95. In the aftermarket hours, the MSTR stock has surged by an additional 2.85% moving closer to $1000.
<h3 id="bitcoin-gains-fuel-microstrategy-share-price">Bitcoin Gains Fuel MicroStrategy Share Price</h3>
The massive back-to-back rallies in the MicroStrategy share price comes amid a strong rally in the <a href="https://coingape.com/bitcoin-btc-price-faces-rejection-at-64000-as-us-govt-moves-1-billion-in-btc/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> which surged all the way to $64,000 on Wednesday. On the weekly chart, the Bitcoin price is up by 20% as of now.
On the other hand, Microstrategy stock continues to outperform Bitcoin by gaining 40% in the last five trading sessions. As of Wednesday’s closing, the MSTR share price is up by a staggering 273% outperforming Bitcoin’s 168% gains.
It is clear that through its Bitcoin bet, MicroStrategy has managed to create a massive value unlocking for its shareholders. In a note issued on Tuesday, analysts at TD Cowen expressed their anticipation that Bitcoin transactions would ultimately benefit shareholders over time. They noted:
<blockquote>
 “MicroStrategy represents a new kind of firm that generates dollar-based cash flow from enterprise software and cloud services but then converts its excess cash flow – on an effectively leveraged basis – into Bitcoin. What started as a defensive strategy to protect the value of its reserve assets has become an opportunistic strategy intended to accelerate the creation of shareholder value.”
</blockquote>
Earlier this week, just before the 20% Bitcoin price rally triggered, <a href="https://coingape.com/michael-saylors-microstrategy-buys-155m-in-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a> purchased an additional 3,000 Bitcoin worth $155 million. With the recent BTC price rally to $64,000, MicroStrategy’s unrealized profits for its Bitcoin holdings have crossed past <a href="https://coingape.com/bitcoin-btc-price-microstrategys-unrealized-profit-hits-5-7b-high/" target="_blank" rel="noopener noreferrer nofollow">$5.7 billion</a>.
<h3 id="insiders-selling-the-mstr-stock">Insiders Selling the MSTR Stock?</h3>
Michael Saylor, MicroStrategy’s executive chairman and largest investor, holds a 12% stake in the company. Additionally, he revealed in 2020 that he personally owns 17,732 Bitcoins. When combining these holdings, Saylor’s wealth has increased by approximately $700 million since Sunday.
According to a recent <a rel="noopener noreferrer nofollow" href="https://www.sec.gov/Archives/edgar/data/1050446/000095017024022063/xslF345X05/ownership.xml" target="_blank">SEC filing</a> on February 26, 2024, Michael Saylor, the Executive Chairman and 10% Owner of MicroStrategy Inc (NASDAQ:MSTR), sold 5,000 shares of the company.
The shares were sold at a price of $765.67 per share, totaling $3,828,350 for the transaction. This sale contributes to Saylor’s total sales over the past year, amounting to 165,000 shares, with no recorded purchases in the same period.
Looking at the <a rel="noopener noreferrer nofollow" href="https://finance.yahoo.com/news/microstrategy-executive-chairman-michael-saylor-042239903.html" target="_blank">insider transaction</a> history of MicroStrategy Inc., there is a consistent pattern of selling, with 62 insider sells and no insider buys over the past year.
The post <a href="https://coingape.com/microstrategys-bitcoin-bet-unlocks-massive-shareholder-value-mstr-at-1000/" rel="noopener noreferrer nofollow">MicroStrategy’s Bitcoin Bet Unlocks Massive Shareholder Value, MSTR at $1000</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

MicroStrategy’s Bitcoin Bet Unlocks Massive Shareholder Value, MSTR at $1000

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