MicroStrategy is on the verge of owning 3% of all bitcoin, underscoring Michael Saylor’s determination to turn the enterprise-software vendor into one of the world’s largest corporate holders of the cryptocurrency. Data circulated on Tuesday indicate the Tysons Corner, Virginia-based company now controls about 627,000 bitcoin after purchasing 376,571 coins since Donald Trump’s election victory. The stash, valued near $43.2 billion at prevailing prices, puts MicroStrategy just 1,209 coins away from the 630,000 mark that would equal roughly 3% of bitcoin’s fixed 21 million-coin supply. The latest buying spree lifts bitcoin to roughly 60% of the firm’s total assets. Market trackers estimate MicroStrategy has deployed about $18.3 billion on additional coins so far this year alone. The accumulation comes alongside robust operating performance. Recent figures shared by market commentators show the company generating about $14 billion in operating income and $10 billion in net income, or $32.60 a share, leaving the stock trading at roughly 4.7 times earnings—lower than most members of the S&P 500.
$XYZ | 𝐁𝐥𝐨𝐜𝐤 𝐈𝐧𝐜. (XYZ): BTIG maintains 𝐁𝐮𝐲, raises 𝐏𝐓 𝐭𝐨 $𝟖𝟎.𝟎𝟎 (from $70.00) Analyst sees 𝐦𝐚𝐫𝐠𝐢𝐧 𝐞𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 & 𝐩𝐫𝐨𝐝𝐮𝐜𝐭 𝐯𝐞𝐥𝐨𝐜𝐢𝐭𝐲 driving upside; lifts 𝐂𝐚𝐬𝐡 𝐀𝐩𝐩 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐬 ahead of 2Q print. https://t.co/zh9JS4rFnz
Mizuho raises Coinbase target to $267 on July volume rebound, but still prefers Robinhood https://t.co/KSpWpDXwuQ
$AAPL | 𝐀𝐩𝐩𝐥𝐞 (AAPL): BofA maintains 𝐁𝐮𝐲, 𝐏𝐓 𝐚𝐭 $𝟐𝟒𝟎.𝟎𝟎 Analyst sees 𝐝𝐨𝐮𝐛𝐥𝐞-𝐝𝐢𝐠𝐢𝐭 𝐀𝐩𝐩 𝐒𝐭𝐨𝐫𝐞 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 and rising 𝐝𝐨𝐥𝐥𝐚𝐫𝐬 𝐩𝐞𝐫 𝐝𝐨𝐰𝐧𝐥𝐨𝐚𝐝; maintains view on 𝐬𝐭𝐫𝐨𝐧𝐠 𝐫𝐞𝐭𝐮𝐫𝐧𝐬 & 𝐀𝐈 https://t.co/FqtZa5jkbY