Strategy’s ranking is rising, but it’s worth less than its Bitcoin
At the close on October 6, Strategy’s share price was $164.14. With roughly 399 million shares outstanding, that puts its market cap at about $65 billion. In early September, it had only just broken into the top 500 publicly listed companies worldwide. Its stock has risen about 15% over the past month, and it recently overtook Rumble, climbing further up the rankings.
But the numbers get interesting when you do the math. At the end of September, Strategy held 847,666 bitcoins. At Binance’s current spot price of $85,452, they’re worth about $72.4 billion. The entire company is worth nearly $7 billion less than the Bitcoin it holds.
Its ranking is climbing, but the market is still valuing those coins at a discount. Its average purchase price is about $75,437, leaving it with an unrealized gain of roughly $10,000 per bitcoin. But investors buying the stock are no longer willing to pay a premium on the assumption that “it’ll keep buying Bitcoin.”
I’ll keep buying spot Bitcoin directly rather than gaining indirect exposure by buying its stock.
#Strategy市值排名上升 $BTC
At the close on October 6, Strategy’s share price was $164.14. With roughly 399 million shares outstanding, that puts its market cap at about $65 billion. In early September, it had only just broken into the top 500 publicly listed companies worldwide. Its stock has risen about 15% over the past month, and it recently overtook Rumble, climbing further up the rankings.
But the numbers get interesting when you do the math. At the end of September, Strategy held 847,666 bitcoins. At Binance’s current spot price of $85,452, they’re worth about $72.4 billion. The entire company is worth nearly $7 billion less than the Bitcoin it holds.
Its ranking is climbing, but the market is still valuing those coins at a discount. Its average purchase price is about $75,437, leaving it with an unrealized gain of roughly $10,000 per bitcoin. But investors buying the stock are no longer willing to pay a premium on the assumption that “it’ll keep buying Bitcoin.”
I’ll keep buying spot Bitcoin directly rather than gaining indirect exposure by buying its stock.
#Strategy市值排名上升 $BTC
