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Following
BTC Strategy shares rose 12.15%, Bitcoin approached $70,000, and Michael Siler warned that "difficult times" could come.
Key points:
MSTR shares rose 12.15%, back to $100, thanks to Bitcoin's recovery from below $65,000 to around $70,000.
Thaler said that as strategy companies continue to use complex financing methods, ordinary shareholders may need an investment cycle of up to 10 years.
On Wednesday, Strategy held approximately US$57.4 billion in bitcoin, less than the US$63.36 billion it spent to acquire the assets.
MSTR's linked rally with Bitcoin
Strategy's MSTR stock opened at US$94.54 on Wednesday and closed above US$100, with trading volume reaching 33.85 million shares on the day. Shares hit US$106.90 during the session and then stabilized around US$103.76. At the same time, Bitcoin rose 5.59%, approaching US$70,000 in a short period of time from below US$65,000.
The rally quickly boosted MSTR because Strategy is closely linked to Bitcoin. The company's 840,447 bitcoins make its stock extremely sensitive to cryptocurrency movements, providing equity investors with indirect bitcoin exposure while also amplifying gains and losses.
But this rally has not completely erased months of weakness. MSTR, which traded at around $190 in May, recently fell to around $90 before recovering above $100 on Wednesday.
Siler's Financing Warning
Siler told shareholders that as Strategy continues to use equity and other financing instruments around its Bitcoin reserves, shareholders may need to prepare for up to a decade of investment. His remarks were not a promise of a smooth recovery in stock prices.
Strategy sold 1690 bitcoins between August 3 and August 9 for US$108.6 million, and used the proceeds to buy back STRC preferred shares. Meanwhile, independent MSTR stock sales raised $653.1 million. The company also increased its U.S. dollar reserves to $4.65 billion, adding a new level to its already much-watched financing structure.
Based on Wednesday's Bitcoin price, Strategy's remaining positions are worth approximately US$57.4 billion, and the acquisition of these assets cost US$63.36 billion. This makes investment prospects related to both bitcoin prices and capital management capabilities. MSTR's share price fell to around $90 from around $190 in May, making it clear that such exposure can also quickly amplify losses in unfavorable markets.
