MSTR - Michael Saylor's Bold Bet: Analysts Marvel At MicroStrategy's Double Down On Bitcoin | Benzinga
MicroStrategy Inc.'s (NASDAQ: MSTR) latest move to acquire even more Bitcoin (CRYPTO: BTC) through a $500 million convertible note sale has sent shockwaves through the financial world.
What Happened: This aggressive strategy, following hot on the heels of an $821 million Bitcoin purchase just days ago, has analysts scrambling to assess its impact and applauding CEO Michael Saylor's unwavering conviction.
"Saylor's essentially cornering the market on bullish bets," tweeted Dylan LeClair, a prominent crypto analyst.
He highlighted the precarious position this leaves short-sellers who are now forced into a no-win scenario.
He added that buying MicroStrategy stock exposes them to a premium over the company's actual Bitcoin holdings while attempting to hedge with Bitcoin ...