MicroStrategy shares rose 6.9% on Thursday to $111.14, wiping out the stock’s losses from the past two months. According to Techub, the move was driven mainly by Bitcoin’s rebound above $70,000 and broader macro factors, including the U.S. Treasury’s expansion of bond buybacks and a new crypto-asset rule proposal from the U.S. Securities and Exchange Commission. The company now holds 840,447 BTC at an average cost of $75,385 per coin. At a current Bitcoin price of about $69,803, those holdings are worth roughly $58.67 billion, leaving the position still underwater by about $4.69 billion. Bitcoin would need to rise another 8% for the company’s holdings to break even. The rebound across crypto-related stocks has been uneven, with reserve-style firms such as BitMine and Circle, along with Coinbase, leading gains, while miners including Bitdeer remain well below their June levels. Grayscale research head Zach Pandl said the current market offers an attractive entry point for long-term investors looking at Bitcoin and the broader crypto asset class.
MicroStrategy (MSTR) climbed 6.9% on Thursday to $111.14, erasing the stock’s losses from the past two months, according to Techub. The report said the move was driven mainly by Bitcoin’s recovery above $70,000, along with macro factors including the U.S. Treasury’s expanded bond buyback program and a new crypto-asset rule proposal from the U.S. Securities and Exchange Commission.
The company holds 840,447 BTC with an average purchase price of $75,385. At a current Bitcoin price of about $69,803, that position is valued at roughly $58.67 billion and remains about $4.69 billion underwater. Bitcoin would need to gain another 8% for the holdings to return to break-even.
Crypto-related stocks have not moved in lockstep during the latest rebound. Asset reserve companies such as BitMine and Circle, as well as Coinbase, have led the gains, while mining stocks including Bitdeer are still far below their June levels.
Grayscale research head Zach Pandl said current conditions represent an attractive time for long-term investors to allocate to Bitcoin and the broader crypto asset class.
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