Strategy (MSTR) continued his relentless bitcoin Purchases, acquiring 4,048 additional documents last week and bringing the company’s assets to 636,505 pieces.
Last week’s purchases were made for just under $ 450 million, an average cost of $ 110,981 each. They were financed mainly by the sales of ordinary action, with the sales of the various privileged actions of the company constituting the rest.
The sales of ordinary action has been somewhat controversial lately, because Saylor and the team have promised never long ago to make actions when the Action MNAV – the actions assessment ratio compared to the Bitcoin Holdings value – fell below 2.5x.
The approximate route for the stock in recent times has brought the MNAV to the 1.5x area. With an apparently just modest demand for privileged actions and none for the convertible debt, the company – if it wanted to continue to make important Bitcoin purchases – had no choice but to delete the MNAV 2.5X promise.
The problem of sales of ordinary action with such a modest premium in Mnav, say the opponents, is that the issue risks diluting for existing shareholders.
The company’s Bitcoin holdings are worth just under $ 70 billion at the current Bitcoin price of $ 109,400.
MSTR actions are low -lower in trading prior to the market.
