MicroStrategy Stock Has No Limits: Max Keiser

Max Keiser, a prominent supporter of Bitcoin and advisor to the president of El Salvador, has made an eye-catching assertion about MicroStrategy, the business intelligence firm led by Michael Saylor. He remarked that the stock price growth potential for MicroStrategy is essentially boundless.

### Keiser’s Highly Optimistic Outlook on MSTR

Keiser opined that many seasoned financiers still do not grasp the successful strategy underpinning MicroStrategy and the reasons behind its skyrocketing stock price. He is convinced that MicroStrategy’s stock “literally has no top.”

### MicroStrategy Expands Bitcoin Holdings

Recently, Michael Saylor’s company disclosed the acquisition of an additional 169 Bitcoin for $11.4 million in June. MicroStrategy’s total Bitcoin holdings now stand at 226,500 coins, which translates to approximately $14.66 billion at current exchange rates. This latest acquisition followed another purchase made in mid-June, and all of these were acquired at an average price of $36,821 per Bitcoin.

In the lead-up to the announcement of its second-quarter earnings, MicroStrategy’s stock (MSTR) experienced a decline of 6.5%. This drop occurred amid a wider downturn in both stock and cryptocurrency markets. However, over the past year, MSTR has seen a threefold increase, while Bitcoin’s price has doubled during the same timeframe.

### Plans for Additional Bitcoin Investments

The company reported a net loss of nearly $103 million, equating to about $5.74 per share, compared to a profit of $22.2 million ($1.52 per share) from the previous year. The losses included a substantial impairment charge of $180.1 million on its Bitcoin holdings, significantly higher than last year’s $24.1 million for Q2.

Earlier this year, MicroStrategy successfully raised funds for more Bitcoin purchases through debt offerings, initially raising $500 million in March and later increasing that goal to $700 million in the summer. According to cryptocurrency journalist Colin Wu, the company is looking to raise around $2 billion again to further amplify its Bitcoin investments.

Interestingly, Michael Saylor recently shared a tweet highlighting how Bitcoin has enabled his company to substantially outpace other technology firms in terms of share prices.