MSTR Stock Slides as Bitcoin Sinks Below Strategy’s $75,456…
By Tobi Opeyemi Amure
AI summary of the source article
MSTR shares declined as Bitcoin fell to $69,228, leaving Strategy's 850,364 Bitcoin holdings $5.29 billion below cost. Additionally, MSCI will remove the company from its indexes after the November 30 close under its non-operating company rule.
Why it matters
Strategy argued in an August letter that deletion from MSCI indexes "would have no meaningful impact" on its business.
Key facts
- Strategy's 850,364 Bitcoin holdings carry a $5.29 billion paper loss against an aggregate purchase cost of $64.16 billion, or $75,456 per coin.
- MSCI is removing MSTR stock from its USA, World, and ACWI indexes effective after the November 30 close.
- JPMorgan's September 30 filing reported 848,932 Strategy shares alongside put options covering 1,148,500 shares.
Source excerpt · FinanceFeeds
MSTR stock closed at $114.41 on Thursday, down 6.49%, and traded at $113.04 before the bell at 11:46 GMT on Friday, according to Yahoo Finance and TradingView. Bitcoin stood at $69,228, so the gap below Strategy’s average cost that opened at about 1.8% on 9 November has widened to 8.3%. JPMorgan’s latest 13F, filed on 12 November, shows it held 848,932 shares of MSTR stock on 30 September, 36% mor…