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MicroStrategy temporarily halts Bitcoin purchases… cash holdings increase to $2.19 billion
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- MicroStrategy (MSTR) recently temporarily halted Bitcoin purchases and increased its cash holdings to $2.19 billion.
- The net proceeds will be used to maintain financial soundness, including dividend payments and debt interest repayments.
- MicroStrategy's mNAV is currently about 1.1, indicating the stock does not reflect a significant premium relative to the value of its Bitcoin holdings.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
MicroStrategy (MSTR), led by Michael Saylor, has recently temporarily halted purchases of Bitcoin (BTC) and moved to secure cash liquidity.
According to Walter Bloomberg on the 23rd (local time), MicroStrategy did not make additional Bitcoin purchases during the week ending December 21. Instead, the company raised $748 million through share sales and increased its cash holdings to $2.19 billion. The funds are part of the dollar reserves set up earlier this month and will be used for dividend payments and debt interest repayments.
This move comes after MicroStrategy had been aggressively buying Bitcoin until recently. The company currently holds a total of 671,268 BTC, which exceeds $60 billion at market value. However, Bitcoin's price has fallen about 30% from its all-time high in October, increasing short-term market uncertainty.
Markets are also noting that MicroStrategy's mNAV (modified net asset value multiple) remains around 1.1. This means the stock does not reflect a large premium relative to the value of its Bitcoin holdings, suggesting the company is focusing on financial stability rather than aggressive leverage expansion for the time being.
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