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Bitcoin Holdings and Strategy - MicroStrategy held 252,220 bitcoins as of October 29, 2024, acquired at a total cost of $9.9 billion, with an average price of $39,266 per bitcoin[4, 19] - The market value of MicroStrategy's bitcoin holdings was approximately $18 billion as of October 29, 2024[4] - The company raised $1.1 billion via ATM class A common stock sales and $1.01 billion through 2028 convertible notes[4] - MicroStrategy repaid $500 million in senior secured notes due in 2028 and unencumbered 100% of its bitcoin holdings[4] - The company aims to continually acquire BTC while achieving positive BTC Yield[75] Financial Performance - Q3 2024 total revenues were $116.1 million, a 10% year-over-year decrease[16, 77] - Q3 2024 non-GAAP subscription billings increased by 93% year-over-year to $32.4 million[14, 77] - Q3 2024 subscription services revenues increased by 32% year-over-year[77] - The company reported a GAAP operating loss of $432.6 million in Q3 2024[16] Capital Structure and Debt - MicroStrategy has $4.3 billion in convertible debt outstanding[5] - The company's activities include bitcoin acquisitions using proceeds from equity and debt financings[5] - The company issued $1.01 billion convertible senior notes due 2028 and issued $1.1 billion shares of Class A common stock under ATM[21]

Bitcoin Holdings and Investments - MicroStrategy holds 252,220 BTC with a YTD BTC Yield of 17.8%[1][5] - Q3 2024 saw an 11% increase in bitcoin holdings and a reduction in annualized interest expense by $24 million[3] - The carrying value of digital assets (252,220 bitcoins) was $6.851 billion as of September 30, 2024[6] - MicroStrategy's Bitcoin holdings increased to 226,331 BTC as of June 30, 2024, with a carrying value of $5.69 billion[40] - The company purchased 25,889 BTC in Q3 2024 at an average price of $60,839 per Bitcoin, using $1.105 billion from stock sales and $458.2 million from convertible notes[40] - Total Bitcoin impairment losses reached $2.64 billion as of June 30, 2024[40] - The market value of Bitcoin holdings at the end of Q2 2024 was $14.02 billion, based on the ending price of $61,926.69 per Bitcoin[41] - MicroStrategy's Bitcoin purchases in 2024 totaled 63,070 BTC, acquired at an average price of $50,817 per Bitcoin[40] - The highest market price per Bitcoin during Q2 2024 was $72,777, resulting in a potential market value of $16.47 billion for the company's holdings[41] - The company's Bitcoin holdings have grown by 93,831 BTC (70.8%) since December 31, 2022[40] - MicroStrategy's Bitcoin holdings represent a total investment of $8.33 billion as of June 30, 2024[40] - The company's Bitcoin purchases in 2024 were funded primarily through convertible notes and stock sales, totaling over $3.17 billion[40] Financial Performance - Total revenues for Q3 2024 were $116.1 million, a 10.3% decrease year-over-year[11] - Gross profit for Q3 2024 was $81.7 million, representing a 70.4% gross margin[12] - Operating expenses increased by 301.6% year-over-year to $514.3 million, including $412.1 million in impairment losses on digital assets[13] - Net loss for Q3 2024 was $340.2 million, or $1.72 per share on a diluted basis[14] - Total revenues for the nine months ended September 30, 2024, were $342.759 million, compared to $371.777 million for the same period in 2023[34] - Digital asset impairment losses for the nine months ended September 30, 2024, were $783.807 million, compared to $76.613 million for the same period in 2023[34] - Net loss for the nine months ended September 30, 2024, was $495.851 million, compared to a net income of $339.995 million for the same period in 2023[34] - Net loss for Q3 2024 was $340.2 million, compared to a net loss of $143.4 million in Q3 2023[50] - Non-GAAP net loss for Q3 2024 was $307.8 million, compared to a non-GAAP net loss of $127.7 million in Q3 2023[50] - Total revenues for Q3 2024 decreased by 10.3% YoY to $116.1 million, with a constant currency decrease of 10.5%[53] - Subscription services revenue increased by 32.5% YoY to $27.8 million in Q3 2024, with a constant currency increase of 32.0%[53] - Product licenses revenue decreased by 53.9% YoY to $11.1 million in Q3 2024, with a constant currency decrease of 53.2%[53] - Total deferred revenue as of September 30, 2024, was $190.7 million, down from $236.7 million at the end of 2023[57] - Software business segment revenue for Q3 2024 was $116.1 million, down from $129.5 million in Q3 2023[58] - Gross profit for Q3 2024 was $81.7 million, compared to $102.8 million in Q3 2023[58] - Operating loss for Q3 2024 was $432.6 million, compared to an operating loss of $25.2 million in Q3 2023[58] - Share-based compensation expense for Q3 2024 was $19.4 million, up from $16.8 million in Q3 2023[50] - Total revenues for the nine months ended September 30, 2024, were $342.759 million, compared to $371.777 million for the same period in 2023[59] - Gross profit for the nine months ended September 30, 2024, was $247.460 million, down from $290.054 million in the same period in 2023[59] - Total operating expenses for the nine months ended September 30, 2024, were $1.084 billion, significantly higher than $362.316 million in the same period in 2023[59] - Loss from operations for the nine months ended September 30, 2024, was $836.558 million, compared to a loss of $72.262 million in the same period in 2023[59] Capital and Debt Management - The company announced a $42 billion capital plan, including $21 billion in equity and $21 billion in fixed-income securities[1][2] - Long-term debt increased to $4.212 billion as of September 30, 2024, from $2.182 billion as of December 31, 2023[37] - Net cash used in investing activities for the nine months ended September 30, 2024, was $4.011 billion, compared to $690.550 million for the same period in 2023[39] - Net cash provided by financing activities for the nine months ended September 30, 2024, was $4.046 billion, compared to $676.025 million for the same period in 2023[39] - Total liabilities increased to $4.570 billion as of September 30, 2024, from $2.598 billion as of December 31, 2023[37] - Total stockholders' equity increased to $3.774 billion as of September 30, 2024, from $2.165 billion as of December 31, 2023[38] - Cash, cash equivalents, and restricted cash decreased to $48.205 million as of September 30, 2024, from $48.673 million at the beginning of the period[39] Corporate Actions and Strategic Updates - The company revised its long-term BTC Yield target to 6% to 10% for 2025 through 2027[5] - MicroStrategy completed a 10-for-1 stock split on August 7, 2024[4] - MicroStrategy introduced a new Corporate & Other category in 2024, which includes impairment charges and other third-party costs related to its digital asset holdings[59] Non-GAAP Metrics - MicroStrategy's non-GAAP loss from operations for Q3 2024 was $413.2 million, compared to $8.4 million in Q3 2023[49] - Non-GAAP net loss for Q3 2024 was $307.8 million, compared to a non-GAAP net loss of $127.7 million in Q3 2023[50]

Regardless of who wins the presidency, investors are better off focusing on top growth stocks.The U.S. presidential election is right around the corner, and many investors would be wondering which stocks could benefit most, based on who will become the next president.But basing your investment decisions on election results isn't a surefire recipe for success. And if you're investing for the long haul, even a four-year presidential term could conceivably be considered short-term in the grand scheme of things ...

It might come as a surprise to some readers that, at the moment of publication, Nvidia (NASDAQ: NVDA) is not the best-performing big name of 2024. And it isn't a media favorite like MicroStrategy (NASDAQ: MSTR) or Palantir (NYSE: PLTR) — that title belongs to Vistra Corp (NYSE: VST), a Texas-based utility company that has seen gains of 235.36% year-to-date (YTD). VST has benefited enormously from the AI boom — the energy business is the largest competitive power generator in the U.S. and a crucial piece of ...

Just how likely is it that Bitcoin hits a price of $13 million by 2045? You might be surprised. Over the past decade, Bitcoin (BTC -1.51%) has been one of the best-performing assets in the world. It has skyrocketed in value from just $100 to its current value of $65,000. The good news is that it may not be too late to invest in Bitcoin's extraordinary upside potential. According to Michael Saylor, founder and executive chairman of MicroStrategy, Bitcoin is likely to hit a price of $13 million by 2045. Based ...

Company Overview - MicroStrategy Incorporated (MSTR) is a software firm specializing in business intelligence (BI) and analytics solutions, offering tools for data exploration, interactive dashboards, data visualization, and reporting [1] - The company went public in 1988 and secured McDonald's (MCD) as a major client before its IPO [1] Bitcoin Adoption Strategy - MicroStrategy adopted the "Bitcoin Standard" under the leadership of Chairman Michael Saylor, who expressed concerns about the monetary system expanding at ~7% annually while inflation rose at ~2% [2] - The company holds over $15 billion in Bitcoin, making it one of the world's top Bitcoin holders [2] - MicroStrategy has transformed from a software firm to a leveraged Bitcoin proxy, with its performance closely tied to Bitcoin's trajectory [3] Bitcoin Catalysts - **Seasonality & "Uptober"**: Historically, October and November have been strong months for Bitcoin, with average gains of 29.5% and 37.9%, respectively, since 2010 [4] - **FTX Repayments**: The collapse of FTX in 2022 led to a $16 billion repayment to customers in December, which is expected to drive reinvestment into Bitcoin and push prices higher [5] - **Bitcoin Halving**: The Bitcoin halving, which occurs every four years, has historically led to triple-digit gains one year later, with the next halving expected to follow this trend [6] - **Bitcoin ETFs**: The approval of several Spot Bitcoin ETFs in 2024, including Fidelity Wise Origin Bitcoin ETF (FBTC), Ark 21Shares Bitcoin ETF (ARKB), and WisdomTree Bitcoin Fund (BTCW), is expected to enhance adoption among money managers and retail investors [7] MicroStrategy's Market Performance - MicroStrategy's stock reached fresh 52-week highs with increased trading volume, showing relative strength against Bitcoin and other crypto proxies like Coinbase Global (COIN) [8] - The stock is emerging from a seven-month base structure, indicating potential for further upward movement [8] Conclusion - Bitcoin has multiple bullish catalysts, and MicroStrategy is positioned as the best way to participate in a potential Bitcoin breakout [9]

Company Overview - MicroStrategy aims to transform into the world's first "Bitcoin bank," sparking investor interest and targeting a $1 trillion valuation [1] - The company's stock surged over 13% to $208 23 in 24 hours, reaching its highest price since March 2020 [1] - MicroStrategy holds 252,220 BTC, valued at over $15 billion, making it the largest corporate Bitcoin holder globally, owning approximately 1 2% of Bitcoin's total supply [3][6] Strategic Vision - MicroStrategy plans to expand its Bitcoin holdings and establish itself as a cornerstone in the Bitcoin capital market, aiming to become a leading Bitcoin finance company [2] - The company's strategy involves borrowing capital at low rates and investing it in Bitcoin, viewing it as a safer bet than traditional banking [3] - MicroStrategy intends to create Bitcoin-based financial products like convertibles and debt instruments, positioning itself uniquely in the financial markets [7] Stock Performance and Predictions - MicroStrategy's stock is predicted to reach between $325 and $350 by the end of 2024, driven by Bitcoin's expected annual growth of 29% [4][5] - The stock's recent surge of over 13% is tied directly to Bitcoin's performance, with further growth expected as Bitcoin gains institutional adoption [4] - AI models, including ChatGPT-4, support the prediction of significant stock growth based on MicroStrategy's aggressive Bitcoin accumulation strategy [8] Long-Term Outlook - MicroStrategy's long-term vision of becoming a "Bitcoin bank" could redefine how corporations store and manage their capital [9] - The company's strategy is justified by Bitcoin's projected rise, with Saylor predicting Bitcoin could hit millions of dollars per coin by 2045, significantly boosting MicroStrategy's stock value [7][9] - MicroStrategy's ability to leverage debt and equity for Bitcoin purchases amplifies potential returns, further supporting its growth trajectory [8]

Core Insights - Recent developments regarding MicroStrategy (NASDAQ: MSTR) warrant significant attention due to their potential impact on investment strategies [1] Company Overview - MicroStrategy is actively involved in the cryptocurrency market, particularly in Bitcoin investments, which may influence its stock performance and investor interest [1] Investment Philosophy - The investment approach emphasizes deep fundamentals, impactful narratives, and Austrian economics, focusing on both long-horizon and short-horizon research strategies [2] Market Position - The company is positioned within the decentralized finance (DeFi) sector, which is gaining traction for its capital-efficient trading solutions in crypto markets [2]

Why did MicroStrategy's stock soar in September? The gains start and end with Bitcoin, but there's more to the story. Shares of MicroStrategy (MSTR 6.38%) gained 27.3% in September, according to data from S&P Global Market Intelligence. The business intelligence software company, known for reinvesting its cash reserves in Bitcoin, generally trended upward along with the leading cryptocurrency. It also accelerated in mid-September, when the company said it would borrow another $700 million to refinance old d ...