Their Bitcoin holdings seems to add up to about half their current market cap, so that seems to make no sense.
EDIT: From [1]:
> “As of June 21st, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per Bitcoin, inclusive of fees and expenses.”
From [2]:
> Market cap: $6.08 Billion
So ~half, and average purchase price is still substantially below current BTC price.
EDIT: From [1]:
> “As of June 21st, 2021, MicroStrategy holds an aggregate of approximately 105,085 bitcoins, which were acquired at an aggregate purchase price of approximately $2.741 billion and an average purchase price of approximately $26,080 per Bitcoin, inclusive of fees and expenses.”
From [2]:
> Market cap: $6.08 Billion
So ~half, and average purchase price is still substantially below current BTC price.
[1] https://dailyhodl.com/2021/06/23/michael-saylors-microstrate...
[2] https://companiesmarketcap.com/microstrategy/marketcap/