MicroStrategy’s Implied Premium to Bitcoin Settling Into New Norm, BTIG Says

Tyler Spalding, CEO / Co-Founder, Flexa, 2Chainz and Zack Seward, Deputy Editor-in-Chief, CoinDesk


“The premium is supported by a desire for investors to have exposure to bitcoin who may be unable to invest directly in bitcoin or in exchange-traded funds (ETFs), and also supported by MSTR’s ability to accretively raise capital to purchase additional bitcoin for shareholders,” the authors wrote. Due to the company’s capital market activity it now has greater exposure to bitcoin on a per-share basis, the report noted. MicroStrategy is expected to benefit from bitcoin catalysts in the coming year, such as the upcoming halving event, which is expected to take place later this month, BTIG said. The quadrennial halving is when miner rewards are slashed by 50%, thereby reducing the rate of growth in bitcoin supply. The software company’s shares fell as much as 14% last Thursday after prominent short seller, Kerrisdale Capital, said in a report that is short-selling the stock while betting long on bitcoin. The Kerrisdale report noted that the bitcoin price currently implied by MicroStrategy’s share price is $177,000, which is two and half times the spot price of the cryptocurrency. None of the reasons cited for the stock’s relative attractiveness “justify paying well over double for the same coin,” the report added. Kerrisdale isn’t the only equity investor shorting shares of MicroStrategy. Total short interest in crypto stocks is $10.7 billion, with MicroStrategy and Coinbase (COIN) making up 84% of the bearish bets, according to a recent report from S3 Partners. Read more: Crypto Stocks Like MicroStrategy, Coinbase Could Shoot Up If Short Sellers Exit


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

mother sex videos sexxxymovs.com desipapa,com suzuka-sama's servant hentaimage.net hentai comics in english سكس مصرى خفى justporno.pro تيسا لين goan sexy girls popsexy.net hindi nangi sexy video hot sexy mms video flyporn.info porn mujra xx x vedeos porntubemania.info indaxnxx indian porn vidio asianporntrends.com www.xnxx telugu sixe video hinde pornous.net xvideozhot sex film nepali desisexy.org chut ki chudai hindi me hot babe having sex orangetube.org x videos in india aloha free sex videos chupaporntube.com indion couple xxx video كس نورهان porn-data.info سكس تقبيل xvideos9 indian-porn-movies.net bengali boudi 3x 相互オナニー mushusei.me 旦那不在の3日間パンストtバックで誘惑してくる人妻に即ハメ中出しした件。 saimin manga hentaiheven.net cast aoi by sanagi torajirou