MSTR Climbs 4% After Bitcoin Low Cut Strategy’s Cushion to…
By Tobi Opeyemi Amure
AI summary of the source article
MSTR rose 4.03% to $141.09 alongside bitcoin's recovery after an overnight drop to $75,653 narrowed Strategy's paper profit cushion to $171.6 million. Company filings also revealed $208.2 million spent repurchasing STRC shares compared to $65.5 million spent buying bitcoin.
Why it matters
The 0.27% cushion is what MSTR holders are actually exposed to, because it shows how little room the average cost leaves after a 9.38% month in bitcoin.
Key facts
- A bitcoin dip to $75,653 briefly reduced Strategy's profit cushion across 849,327 coins to 0.27%, or $171.6 million above its average purchase price.
- Strategy acquired 811 bitcoin for $65.5 million between 26 October and 1 November at an average price of $80,846.
- Strategy repurchased 2,092,035 STRC shares for $208.2 million while raising $164.0 million net from MSTR share sales, leaving a net cash drain of $109.7 million.
Source excerpt · FinanceFeeds
MSTR rose 4.03% to $141.09 on Wednesday, recovering alongside bitcoin after an overnight slide came close to wiping out Strategy’s paper profit on its whole bitcoin position. The stock was up $5.46 at 15:50 GMT+1, per TradingView , against a market capitalization of $59.63 billion. Bitcoin fell to $75,653 at 04:09 GMT+1 . That was $202 above the $75,451 average cost Strategy disclosed in its 2 Nov…