$MSTRB rose 5.98% on Binance bStocks in one day, while Strategy recently spent over 6 times as much on preferred stock buybacks as it did on buying BTC 🧐
Binance bStocks price (Oct 10, 01:05): 156.81 U; 24h low: 147.54; trading volume: 10.79 million U. U.S. stock MSTR closed at $151.47 on Oct 8.
There were two catalysts:
1️⃣ According to TipRanks, Barclays raised its price target for Strategy from $160 to $175.
2️⃣ BTC rebounded to 82,700 from this week’s low of 80,394.
A different set of numbers: According to MarketBeat, Strategy spent about $176 million on preferred stock buybacks from Sept. 28 to Oct. 4, while spending just $28.7 million on 334 BTC during the same period.
If BTC holds above 80,394 and MSTRB stays above 150, it could have a chance to test 175;
if BTC falls below 80,394, MSTRB may retest 147.54, and a break below that level would invalidate the rebound.
bStocks are tokens pegged to stock prices and do not confer shareholder rights.
Should a “BTC treasury company” that buys back preferred stock first still be valued based on its BTC leverage?
Sources: TipRanks, MarketBeat
$MSTRB #美股 #Bitcoin
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.
Binance bStocks price (Oct 10, 01:05): 156.81 U; 24h low: 147.54; trading volume: 10.79 million U. U.S. stock MSTR closed at $151.47 on Oct 8.
There were two catalysts:
1️⃣ According to TipRanks, Barclays raised its price target for Strategy from $160 to $175.
2️⃣ BTC rebounded to 82,700 from this week’s low of 80,394.
A different set of numbers: According to MarketBeat, Strategy spent about $176 million on preferred stock buybacks from Sept. 28 to Oct. 4, while spending just $28.7 million on 334 BTC during the same period.
If BTC holds above 80,394 and MSTRB stays above 150, it could have a chance to test 175;
if BTC falls below 80,394, MSTRB may retest 147.54, and a break below that level would invalidate the rebound.
bStocks are tokens pegged to stock prices and do not confer shareholder rights.
Should a “BTC treasury company” that buys back preferred stock first still be valued based on its BTC leverage?
Sources: TipRanks, MarketBeat
$MSTRB #美股 #Bitcoin
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.