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You’re incorrect. They have about 110,000 btc I think, worth a bit over $7 billion. Their marketcap is $7.82 billion. But they also have $2.2 billion debt. Leg
by graeme 5y ago
You’re incorrect. They have about 110,000 btc I think, worth a bit over $7 billion. Their marketcap is $7.82 billion.
But they also have $2.2 billion debt. Legacy co worth about $500 million.
Add $1.7 billion to marketcap and you’ll see their bitcoin are valued at about $9.5 billion, a 30% premium. This has narrowed I think, they’ve been selling stock to arbitrage the difference.
- graeme 5y agoI might be a bit off because the debt isn’t valued at par and they could presumably buy it back.