MSTR 1300 PUT OPTIONS
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Michael Saylor’s Sell-Off: Michael Saylor, the executive chairman of MicroStrategy, sold shares worth $20 million ahead of the SEC’s Bitcoin ETF approval1. This move raised concerns among investors, leading to a decline in MicroStrategy’s stock price by 23%1.
Bitcoin Holdings: Despite the sell-off, MicroStrategy continues to hold a substantial amount of Bitcoin. As of the latest reports, the company holds 226,331 BTC, acquired at an average price of $36,798 per Bitcoin2.
Stock Performance: MicroStrategy’s stock has been highly correlated with Bitcoin’s performance. The company’s strategy of using Bitcoin as its primary treasury reserve asset has led to significant volatility in its stock price3.
Recent Purchases: Even amid broader market sell-offs, MicroStrategy has continued to buy more Bitcoin. Between April 27 and June 19, 2024, the company purchased 11,931 Bitcoins worth $786 million2.
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