Company papers on Tuesday Microstrategy (mstr) They fell sharply, having reached the lowest level since April. The reason was the announcement of Michael Saylor to revise the terms of sale of shares for the sake of expanding the Bitcoin procurement program.
📉 According to Google Finance, MSTR quotes decreased by 7.43% to $336.57 per share. After the closing of the trading, the papers fell by another $0.76. For comparison: in July, at the peak of Bitcoin, the cost reached $455.9.
The decline in shares was also affected by the cryptocurrency market itself: the Bitcoin exchange rate fell to about $113,000, which put pressure on the company’s capitalization.
What has changed in the Strategy policy?
Michael Saylor He said that the company revised the internal rules for working with shares. Now MSTR can issue new papers, provided that their value is 2.5 times higher than the company’s net assets. This will allow you to raise additional funds for:
- Bitcoin purchases,
- debt service,
- payment of dividends.
📌 Earlier in the profit and loss statement, Microstrategy stated that it would not issue shares at a price below “2.5 million NAV”. A sharp change in position caused criticism of investors.
One of the users of social networks noted:
“Promising one thing to holders, and then changing course so quickly is an alarming signal.”
Thus, Microstrategy continues to build up a dependence on the Bitcoin rate, which makes the company’s paper extremely volatile.
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