B HODL Stock Soars 67% on Bitcoin Playbook
B HODL stock has seen a significant surge in value over the past month, rising by 67%. This is largely attributed to its decision to buy more Bitcoin and follow the playbook laid out by MicroStrategy.
The company acquired 1 additional BTC on Thursday, bringing its total treasury to 167.487 BTC. It funded this purchase through a combination of its at-the-market (ATM) equity programme and its Capital Deployment Programme.
Despite paying £57,680 ($77,772) for the coin, which is roughly 29% underwater due to B HODL's average cost per Bitcoin being near $110,129, the company's stock continues to climb. Bitcoin itself has gained 22% in a month and is currently trading near $77,658.
The increase in sats per share from 117.77 at the end of April to 120.16 suggests that dilution will only pay off when each share ends up holding more Bitcoin. This aligns with the approach taken by MicroStrategy, which pioneered the use of ATM programmes.