Strategic Highlights
- Fair-value accounting shift elevates balance sheet from $17.9B to ~$24B, offsetting Q4 impairment losses.
- Total BTC holdings: 447,470 BTC (62% profit margin), generating 48% Q4 yield and 74.3% FY 2024 yield.
- Analyst outlook: Benchmark projects 91% upside ($650 target), citing perpetual preferred stock strategy for institutional appeal.
MicroStrategy reinforced its Bitcoin dominance with a **$101 million purchase** of 1,070 BTC, acquired at ~$94,000 per Bitcoin in late December. This move fueled a 3.6% BTC price surge past $100K and a 4.5% jump in **MSTR stock**, now exceeding $350.
Financial Impact
- Portfolio value: $45.3B (average buy price: $62,470).
- Accounting shift: Fair-value methods now reflect nearly $24B in assets, up from $17.9B.
- Capital strategy: $2B perpetual preferred stock offering planned for Q1 2025, targeting conservative investors.
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Analyst Insights
Benchmark’s Mark Palmer endorsed MSTR’s "aggressive yet calculated" approach, highlighting its software potential and BTC treasury growth. The firm aims to raise $42B by 2027 through hybrid financing.
FAQs
Q: Why switch to fair-value accounting?
A: It better reflects MicroStrategy’s BTC gains, boosting reported assets by 34%.
Q: How does perpetual preferred stock help?
A: Appeals to low-risk investors (e.g., insurers) while funding BTC acquisitions.
Q: What’s the long-term BTC strategy?
A: Saylor plans sustained purchases, leveraging equity/debt mixes to capitalize on Bitcoin’s appreciation.
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Disclaimer: Content is for informational purposes only. Verify details independently before making financial decisions.
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