MicroStrategy Debt Wiped Out by Cash Reserves: MSTR Stock Soars
MicroStrategy, formerly known as Strategy, has announced that its dollar reserves now nearly offset all of its $6.75 billion debt.
The company's stock, MSTR, climbed 12% on Thursday as fears of forced Bitcoin sales faded.
According to the announcement, MicroStrategy's net leverage is approximately 0.1%, meaning its cash nearly cancels out its debt.
The company holds a significant amount of Bitcoin, with 840,447 BTC worth around $67.9 billion at current prices.