₱ⱤØⱠł₣ł₵ JØł₦₮Ⱬ on Nostr: $MSTR Bitcoin Per Share Metrics - 2024 Year End What a year 2024 was for MSTR! Let's ...
$MSTR Bitcoin Per Share Metrics - 2024 Year End
What a year 2024 was for MSTR!
Let's take a look at what was accomplished.
Bitcoin Held
To begin 2024, MSTR held 189,150 BTC. Closing 2024 they added 258,320 #Bitcoin to their treasury holdings. This is an increase of 136.6% for the year! That's a TON of Bitcoin buying!
Bitcoin Per Assumed Fully Diluted Share:
MSTR entered 2024 with 0.00091096 BTC per fully diluted share and exited 2024 with 0.00158826. That represents an annual increase of 74.3%!
At the closing Bitcoin price for 2024 of $93,381, that means that during the year the MSTR Treasury team generated $63.25 in new value per assumed fully diluted share. Wow!
Not only that, at the beginning of 2024 you needed to own 1,097.7 share of MSTR to have an allocation to 1 BTC. At the end of 2024, that now sits at 629.6 shares, a decrease of -468.1 shares or -42.6% for the year!
The treasury team was busy!
What 2025 has to offer
Entering the new year, we already know that the team is going to be busy. Let's check in on the 21/21 plan.
The $21B in equity was active in 2024 using $14.23B from the ATM. Entering 2025, the ATM has $6.77B remaining for use.
As for the fixed income $21B, there is plenty of room for utilization. They did 1 convertible debt offering in 2024 for $3B meaning we have $18B remaining to be utilized on the plan. It seems that Q1 may be the quarter of fixed income as MSTR has leverage capacity and has already announced their $2B Preferred offering.
MSTR is currently sitting on a leverage ratio of ~16.6% which is far below the typical target of 25%. This means they have space for $4-$5B in convertible bond offerings immediately should they choose to utilize it. This number will be even higher after acquisitions from the Preferred offering and if you take into account that several of the existing convertible bonds are essentially equity at today's prices.
So very quickly we could see $6-$10B in fixed income products entering the market in Q1 alone! What a way to kick off 2025!
It's a big year for Bitcoin with the tail winds strongly shifting in favor of the hardest money known to mankind. These tail winds coupled with the demand the capital markets have shown for securitized Bitcoin products means we are likely far from done seeing the evolution of the asset class on Wall Street.
I want to wish everyone good health and great fortune in the New Year!
What a year 2024 was for MSTR!
Let's take a look at what was accomplished.
Bitcoin Held
To begin 2024, MSTR held 189,150 BTC. Closing 2024 they added 258,320 #Bitcoin to their treasury holdings. This is an increase of 136.6% for the year! That's a TON of Bitcoin buying!
Bitcoin Per Assumed Fully Diluted Share:
MSTR entered 2024 with 0.00091096 BTC per fully diluted share and exited 2024 with 0.00158826. That represents an annual increase of 74.3%!
At the closing Bitcoin price for 2024 of $93,381, that means that during the year the MSTR Treasury team generated $63.25 in new value per assumed fully diluted share. Wow!
Not only that, at the beginning of 2024 you needed to own 1,097.7 share of MSTR to have an allocation to 1 BTC. At the end of 2024, that now sits at 629.6 shares, a decrease of -468.1 shares or -42.6% for the year!
The treasury team was busy!
What 2025 has to offer
Entering the new year, we already know that the team is going to be busy. Let's check in on the 21/21 plan.
The $21B in equity was active in 2024 using $14.23B from the ATM. Entering 2025, the ATM has $6.77B remaining for use.
As for the fixed income $21B, there is plenty of room for utilization. They did 1 convertible debt offering in 2024 for $3B meaning we have $18B remaining to be utilized on the plan. It seems that Q1 may be the quarter of fixed income as MSTR has leverage capacity and has already announced their $2B Preferred offering.
MSTR is currently sitting on a leverage ratio of ~16.6% which is far below the typical target of 25%. This means they have space for $4-$5B in convertible bond offerings immediately should they choose to utilize it. This number will be even higher after acquisitions from the Preferred offering and if you take into account that several of the existing convertible bonds are essentially equity at today's prices.
So very quickly we could see $6-$10B in fixed income products entering the market in Q1 alone! What a way to kick off 2025!
It's a big year for Bitcoin with the tail winds strongly shifting in favor of the hardest money known to mankind. These tail winds coupled with the demand the capital markets have shown for securitized Bitcoin products means we are likely far from done seeing the evolution of the asset class on Wall Street.
I want to wish everyone good health and great fortune in the New Year!