We have 5x the money we are borrowing for intelligent leverage
Improve the volatility and the performance profile
Bitcoin collateral coverage
20-60% long term forecast
6 month play
Poverty mindset ?
Decisions which excite you ?
Trading accounts
Cambodia is really Zen
The best way to learn a language: don’t try to learn the language 
The Best way to make money: don’t try to make money
4x leverage
10x leverage ?
Money as a means to health ?
Life goals, lifestyle goals?
Financial Ability
Perhaps my new desire in regards to finances is to just feel infinitely abundant
The funny irony is that actually… Truth be told I don’t really care to spend money, but knowing that I can spend money is the happy thought
X
Rather than buying a new iPhone, the better financial investment is instead to  use that money to pay for AI like ChatGPT and grok?
Also, grok is 1 trillion times better than ChatGPT in regards to investing because it has direct access to ask, which is now the epicenter of all financial news
What does it mean, what does it signify?
Being in Phnom Penh, ironically enough… I feel like I’m living the cyber punk future here?
Phnom Penh rising
Wow, what a Time to be alive!
Invest in forever
Maximum power, minimum size?
The ethos of the thing rather than the price of it
Composition is and must be intuitive   Virtuous movement
The most smiling country
Smile
Fun, play 
***
iPad Pro is for serious work, iPhone is just for play?
Research suggests MSTU and MSTX achieve 2x leverage using total return swaps and short-dated deep in-the-money options.
It seems likely that swaps link to MicroStrategy’s (MSTR) daily returns, while options supplement when swaps are limited.
The evidence leans toward high volatility causing tracking errors, with options introducing bid-ask spreads and performance issues.
How MSTU and MSTX Achieve 2x Leverage
Overview MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) are designed to deliver twice the daily return of MicroStrategy (MSTR), a company tied to Bitcoin’s volatility. Achieving 2x leverage means these ETFs aim to double MSTR’s daily gains or losses, but the method is complex due to market constraints.
Method of Achieving Leverage Both ETFs primarily use total return swaps, which are contracts with counterparties (like Clear Street or Marex) to exchange MSTR’s total return for a fee, aiming for 2x the daily performance. For example, if MSTR rises 1%, the swap targets a 2% gain for the ETF. However, MSTR’s high volatility makes large swaps hard to secure, so both ETFs also rely on short-dated deep in-the-money options. These options have high sensitivity (Delta) to MSTR’s price, helping maintain 2x exposure while minimizing time decay and volatility impacts.
Unexpected Detail: Options and Tracking Errors An interesting aspect is that options, while necessary, can introduce challenges. They have wider bid-ask spreads and greater volatility, leading to tracking errors where the ETFs may not perfectly achieve 2x returns. For instance, on November 25, 2024, MSTR fell 1.9%, but MSTU dropped 6.2%—more than expected—showing how options can amplify losses.
Risks and Limitations Due to MSTR’s volatility and swap limits, both ETFs sometimes struggle to maintain precise 2x leverage, especially as their assets grew rapidly by mid-November 2024. This can result in performance deviations, making them less reliable for long-term holds.
This report provides an in-depth analysis of how MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) achieve their 2x daily leverage, targeting MicroStrategy Incorporated (MSTR), a company known for its substantial Bitcoin holdings. Both ETFs aim to deliver twice the daily return of MSTR, but their methods involve complex financial instruments due to MSTR’s high volatility and market constraints. The analysis is based on available data up to March 19, 2025, and includes insights into mechanisms, challenges, and performance implications.
Background
MicroStrategy (MSTR) has seen significant volatility in 2024 and 2025, driven by the cryptocurrency market, particularly Bitcoin’s price movements. MSTU and MSTX, launched in September and August 2024 respectively, use leveraged strategies to amplify MSTR’s daily returns by 200%. Achieving this leverage requires sophisticated financial instruments, as direct investment in MSTR with 2x exposure is not feasible due to regulatory and market limits.
Mechanism of Achieving 2x Leverage
Both ETFs employ a combination of total return swaps and short-dated deep in-the-money options to achieve their leverage target. Below is a detailed breakdown:
Instrument
Description
Role in 2x Leverage
Total Return Swaps
Contracts with counterparties (e.g., Clear Street, Marex) to exchange MSTR’s total return for a fee.
Directly links to MSTR’s daily performance, aiming for 2x return (e.g., 2% gain if MSTR rises 1%).
Short-Dated Deep In-The-Money Options
Call options on MSTR with short expiration and high intrinsic value, maximizing Delta (sensitivity to stock price).
Supplements swaps when liquidity is limited, ensuring 2x exposure by amplifying price movements.
Total Return Swaps: These are derivative contracts where the ETF provider (T-Rex for MSTU, Defiance for MSTX) agrees with a counterparty to receive 2x the daily return of MSTR, minus fees. For example, if MSTR increases by 1% in a day, the swap aims to deliver a 2% gain to the ETF. However, MSTR’s volatility (with a market cap nearly $80 billion, twice its Bitcoin holdings at over $100,000/BTC) makes large swap positions risky for counterparties, limiting availability.
Short-Dated Deep In-The-Money Options: Due to swap constraints, both ETFs hold significant positions in short-dated deep in-the-money call options. These options have a high Delta, meaning they move almost dollar-for-dollar with MSTR’s price, helping maintain 2x exposure. They are chosen to minimize the impact of time decay and implied volatility, but they introduce other challenges, as discussed below.
Challenges and Tracking Errors
The use of options and the limitations of swaps have led to several challenges, particularly as the ETFs grew rapidly in late 2024:
Liquidity and Swap Limits: By mid-November 2024, MSTU’s main broker could only offer $20 million to $50 million in swap exposure when $1.3 billion was needed, forcing reliance on options. MSTX faced similar issues shortly after launch, as reported in financial analyses (Longport Article). This shift to options was driven by the unprecedented growth of these high-leverage ETFs exceeding Wall Street’s risk tolerance.
Tracking Errors: The use of options introduces bid-ask spreads and greater price volatility, leading to tracking errors where the ETFs do not perfectly achieve 2x MSTR’s daily return. Specific examples include:
On November 25, 2024, MSTR fell by 1.9%, but MSTU dropped by 6.2% (exceeding the expected 3.8% decline for 2x leverage), and MSTX likely faced similar issues.
On November 27, 2024, MSTR rose by 9.9%, but MSTU increased by only 13.9% (below the expected 19.8% for 2x leverage), highlighting underperformance on the upside.
These discrepancies were noted in online discussions and financial reports, with investors expressing frustration over the “math failing†(Dave Nadig Substack).
Key Differences Between MSTU and MSTX
While both ETFs use similar strategies, there are subtle differences in implementation and performance:
Management and Strategy: MSTU is managed by T-Rex (part of REX Shares), while MSTX is managed by Defiance. Reports suggest MSTX may track the 2x leverage more consistently, with MSTU facing criticism for underperforming on certain days, leaving gains “on the table†when MSTR rises (Reddit Discussion).
Assets Under Management (AUM): As of recent data, MSTU has higher AUM at $685 million compared to MSTX’s $477 million, potentially providing better liquidity for trading, which could affect option execution costs.
Performance Implications
The reliance on options, while necessary, introduces additional costs and risks:
Bid-Ask Spreads: Options trading has wider spreads, increasing transaction costs and impacting net returns.
Volatility Decay: The high volatility of MSTR, compounded by leverage, can lead to performance decay over time, especially for longer holding periods, as noted in discussions about leveraged ETFs (REX Shares MSTU).
Daily Rebalancing: Both ETFs reset their leverage daily, meaning their performance over periods longer than a day is the result of compounding daily returns, which can deviate significantly from 2x MSTR’s total return over weeks or months.
Unexpected Detail: Options as a Necessity
An interesting aspect is that the use of options, while a standard tool in leveraged ETFs, became a necessity for MSTU and MSTX due to MSTR’s extreme volatility. This is not typical for all leveraged ETFs, as many can rely more heavily on swaps for less volatile underlying assets. The shift to options highlights the unique challenges of leveraging a stock so closely tied to Bitcoin’s price swings, adding an unexpected layer of complexity for investors.
Investor Considerations
Given the mechanisms described, investors should be aware:
Short-Term Focus: Both ETFs are designed for daily returns, not long-term holding, due to potential performance decay from volatility and compounding.
Risk of Tracking Errors: The reliance on options can lead to deviations from the 2x target, especially during high volatility, as seen in late 2024 examples.
Cost Implications: Higher costs from options (bid-ask spreads, fees) can erode returns, particularly for frequent trading.
MSTU and MSTX achieve their 2x daily leverage through a combination of total return swaps and short-dated deep in-the-money options. Swaps provide direct exposure to MSTR’s performance, while options supplement when swap liquidity is limited, driven by MSTR’s high volatility and market constraints. However, this approach can result in tracking errors, with options introducing bid-ask spreads and performance deviations, as evidenced by specific instances in late 2024. Investors should consider these risks, especially for holding periods beyond daily trading, and consult current market data for the latest insights.
MSTU and MSTX are both leveraged ETFs aiming for 2X daily returns of MicroStrategy (MSTR), a Bitcoin-focused company, but they differ in costs and features.
Research suggests MSTU has a lower expense ratio (1.05%) compared to MSTX (1.29%), making it cheaper to hold.
It seems likely that MSTX offers a high dividend yield (55.36%), while MSTU does not pay dividends, which could appeal to income-focused investors.
The evidence leans toward MSTU having higher assets under management ($685M vs. $477M), suggesting better liquidity, but both are high-risk due to volatility.
Overview
MSTU and MSTX are exchange-traded funds (ETFs) designed to provide 2X leveraged exposure to MicroStrategy (MSTR), a company known for its significant Bitcoin holdings. These ETFs are meant for short-term trading, not long-term investment, due to the risks of daily rebalancing and leverage. Below, we compare their key features to help you decide which might suit your needs.
Cost and Fees
MSTU has an expense ratio of 1.05%, while MSTX’s is higher at 1.29%. This means MSTU is cheaper to hold over time, which could save you money in fees.
Dividends and Income
An unexpected detail is that MSTX offers a trailing twelve-month dividend yield of 55.36%, which is unusually high for an ETF. MSTU, on the other hand, does not pay dividends, so if you’re looking for income, MSTX might be more appealing.
Performance and Liquidity
MSTU has shown slightly better 30-day performance (70% vs. 61% in recent data), but MSTX has performed better year-to-date (-7.96% vs. -9.74%). MSTU also has higher assets under management ($685M vs. $477M), which could mean it’s easier to buy and sell without affecting the price.
Risk and Volatility
Both ETFs are highly volatile, with MSTU showing a slightly higher daily standard deviation (213.27% vs. 200.87% for MSTX). This means MSTU might be riskier, especially for short-term trades.
Management and Leverage
There are unverified reports suggesting MSTU may not always maintain its 2X leverage as intended, but this is controversial and needs further confirmation. Both are managed by different firms, with MSTU under T-Rex (larger AUM) and MSTX under Defiance.
This report provides an in-depth analysis of MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF), two leveraged ETFs that aim to deliver 2X the daily return of MicroStrategy Incorporated (MSTR), a company known for its substantial Bitcoin holdings. Both ETFs are designed for short-term trading and carry high risks due to their leveraged nature and daily rebalancing. The comparison is based on various metrics, including costs, performance, dividends, volatility, and management, as of the latest available data up to March 19, 2025.
Background
MicroStrategy (MSTR) has seen significant growth in 2024 and 2025, driven by the cryptocurrency bull run, particularly Bitcoin’s performance. MSTU and MSTX leverage this by aiming to amplify MSTR’s daily returns by 200%, making them suitable for investors bullish on MSTR and Bitcoin but not for long-term holding due to compounding effects.
Key Metrics Comparison
Below is a table summarizing the key differences between MSTU and MSTX:
Metric
MSTU
MSTX
Expense Ratio
1.05%
1.29%
Current Price
$6.62 (after hours, 03/19/25)
$30.58 (after hours, 03/19/25)
Assets Under Management (AUM)
$685 million
$477 million
Dividend Yield (TTM)
0% (no dividends)
55.36%
30-Day Performance
70% (as of recent data)
61% (as of recent data)
YTD Return
-9.74% (as of recent data)
-7.96% (as of recent data)
Daily Std Dev
213.27%
200.87%
Max Drawdown
-84.26%
-84.59%
Current Drawdown
-78.58%
-79.16%
Management
T-Rex (REX shares, $10B+ AUM)
Defiance ($4B+ AUM)
Cost Analysis
The expense ratio is a critical factor for long-term holding, though both ETFs are intended for short-term trading. MSTU’s expense ratio of 1.05% is lower than MSTX’s 1.29%, meaning MSTU is cheaper to hold, potentially saving investors on fees over time. This difference, while small, can add up for frequent traders.
Dividend and Income Potential
An interesting aspect is MSTX’s trailing twelve-month dividend yield of 55.36%, which is unusually high for an ETF, especially a leveraged one. This could attract income-focused investors, particularly those looking for periodic payouts. MSTU, however, does not pay dividends, focusing solely on capital gains through leverage.
Performance and Liquidity
Performance data shows MSTU with a 30-day return of 70% compared to MSTX’s 61%, suggesting MSTU has outperformed recently. However, year-to-date, MSTX fares better with a -7.96% return compared to MSTU’s -9.74%. These figures are based on historical data and may vary, so investors should check current performance at PortfoliosLab Comparison.
Liquidity, indicated by AUM, is higher for MSTU at $685 million compared to MSTX’s $477 million. Higher AUM typically means better liquidity, making it easier to enter and exit positions without significant price impact, which is crucial for leveraged ETFs with high volatility.
Risk and Volatility
Both ETFs are highly volatile due to their 2X leverage. MSTU’s daily standard deviation of 213.27% is higher than MSTX’s 200.87%, indicating MSTU is slightly riskier. Drawdowns, which measure peak-to-trough declines, are similar, with MSTU at -84.26% max drawdown and MSTX at -84.59%, reflecting the high-risk nature of both funds. Current drawdowns are also close, at -78.58% for MSTU and -79.16% for MSTX, underscoring the potential for significant losses.
Management and Leverage Concerns
MSTU is managed by T-Rex, part of REX shares with over $10 billion in AUM, while MSTX is managed by Defiance with over $4 billion in AUM. The larger AUM for T-Rex might suggest more experience, but both are reputable providers.
There are unverified reports from online forums, such as Reddit, suggesting MSTU may not always maintain its 2X leverage as intended, with claims of underperformance when MSTR rises and overperformance when it falls. These claims are controversial and lack official confirmation, so investors should approach with caution. MSTX, based on available data, seems to follow the 2X ratio more consistently, but this requires further verification.
Use Case and Investor Considerations
Both ETFs are designed for investors bullish on MSTR and Bitcoin, leveraging daily price movements. Due to daily rebalancing, they are not suitable for long-term holding, as compounding can lead to performance decay over time. Investors should consider:
Cost: MSTU for lower fees.
Income: MSTX for dividend yield.
Liquidity: MSTU for higher AUM.
Risk Tolerance: Both are high-risk, but MSTU is slightly more volatile.
MSTU and MSTX offer similar leveraged exposure to MSTR, but MSTU stands out for its lower expense ratio and higher AUM, while MSTX offers a significant dividend yield, an unexpected feature for a leveraged ETF. Both are high-risk and best suited for short-term trading strategies. Investors should weigh their priorities—cost, income, performance, and risk—before choosing, and always consult current market data and professional advice.
If I plan on holding 6 months or 1 year what’s the better bet
Key Points
Research suggests MSTX might be slightly better for holding 6 months or 1 year due to better leverage tracking, despite higher fees.
Both are leveraged ETFs, not ideal for long-term holding, with potential performance decay over time.
MSTU has a lower expense ratio (1.05% vs. 1.29%), but there are concerns about maintaining 2X leverage.
MSTX shows a high dividend yield in some reports, but it’s inconsistent and may not be reliable.
Cost and Fees
MSTU’s expense ratio is 1.05%, lower than MSTX’s 1.29%, which could save costs over time.
Performance and Leverage
Recent data shows MSTX with a slightly better year-to-date return (-25.92% vs. MSTU’s -27.63%) and a 6-month return of 87.35%, while MSTU’s 6-month data is unavailable due to its later launch.
There are reports of MSTU underperforming on certain days, suggesting issues with maintaining 2X leverage, while MSTX seems to track better.
Dividends and Other Factors
MSTX has been reported to have a high dividend yield (up to 55.36% TTM), but this is inconsistent across sources, so it’s not a reliable factor.
MSTU has higher assets under management ($685M vs. $477M), indicating better liquidity.
Given the risks, consider consulting a financial advisor before investing, especially for longer holds.
Detailed Comparison Report
This report provides an in-depth analysis of MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF), two leveraged ETFs that aim to deliver 2X the daily return of MicroStrategy Incorporated (MSTR), a company known for its substantial Bitcoin holdings. The user is considering holding either ETF for 6 months or 1 year, which is longer than the typical daily reset period for leveraged ETFs. Given the complexity and risks involved, this analysis evaluates key metrics, including costs, performance, dividends, volatility, and leverage maintenance, as of the latest available data up to March 19, 2025.
Background
MicroStrategy (MSTR) has seen significant volatility in 2024 and 2025, driven by the cryptocurrency market, particularly Bitcoin’s performance. MSTU and MSTX leverage this by aiming to amplify MSTR’s daily returns by 200%, making them suitable for short-term trading but risky for longer holds due to compounding effects and daily rebalancing. Both ETFs were launched recently, with MSTX on August 14, 2024, and MSTU on September 18, 2024, which limits historical data for longer-term analysis.
Key Metrics Comparison
Below is a table summarizing the key differences between MSTU and MSTX based on recent data:
Metric
MSTU
MSTX
Expense Ratio
1.05%
1.29%
Launch Date
September 18, 2024
August 14, 2024
Assets Under Management (AUM)
$685 million
$477 million
Dividend Yield (TTM)
0% (no dividends)
Reported 55.36% (inconsistent)
YTD Return (as of Mar 7, 2025)
-27.63%
-25.92%
1-Month Return (as of Mar 7, 2025)
-39.76%
-39.75%
6-Month Return (as of Mar 7, 2025)
N/A (launched later)
87.35%
Daily Std Dev (recent)
213.27%
200.87%
Cost Analysis
The expense ratio is a critical factor for longer holding periods, though both ETFs are intended for short-term trading. MSTU’s expense ratio of 1.05% is lower than MSTX’s 1.29%, meaning MSTU is cheaper to hold over time. This difference, while small, can add up for investors holding for 6 months or 1 year, especially given the high volatility and potential for frequent trading.
Dividend and Income Potential
An unexpected detail is MSTX’s reported trailing twelve-month dividend yield of 55.36% in some sources, such as PortfoliosLab. However, this is not consistently reported across platforms like Yahoo Finance, which lists no dividend yield, and StockAnalysis.com, which states MSTX has not paid regularly scheduled dividends in the past year. TipRanks mentions a dividend payment of 14.427 per share on January 3, 2025, with a yield of 50.33%, suggesting possible special distributions. Given the inconsistency, it seems likely that MSTX’s dividends are not reliable or sustainable, possibly tied to specific events or gains, and should not be a primary factor for decision-making.
Performance and Leverage Maintenance
Performance data from PortfoliosLab shows MSTX with a slightly better YTD return (-25.92% vs. MSTU’s -27.63%) and a 6-month return of 87.35%, while MSTU’s 6-month data is unavailable due to its later launch date. Both ETFs have experienced significant negative returns over the past month (-39.75% for MSTX and -39.76% for MSTU), reflecting the high volatility of leveraged products tied to MSTR and Bitcoin.
A significant concern is MSTU’s leverage maintenance. Reports from online discussions, such as Reddit posts and articles like Dave Nadig’s Substack, indicate that MSTU has underperformed on certain days, leaving almost 6% on the table when MSTR was up, suggesting issues with tracking the 2X leverage. This is attributed to potential liquidity issues and the use of call options to achieve leverage, which may not be ideal. MSTX, in contrast, appears to track the 2X leverage more consistently, as evidenced by better performance on specific days, making it a potentially better choice for capturing intended returns over time.
Risk and Volatility
Both ETFs are highly volatile, with MSTU showing a slightly higher daily standard deviation (213.27% vs. 200.87% for MSTX). This means MSTU might be riskier, especially for longer holds, as volatility can amplify losses during market downturns. The high correlation (1.00) between MSTU and MSTX, as noted in PortfoliosLab, indicates they move similarly, increasing risk during market swings.
Liquidity and Management
MSTU has higher AUM at $685 million compared to MSTX’s $477 million, suggesting better liquidity, which could make it easier to enter and exit positions without significant price impact. This is particularly important for leveraged ETFs, where large trades can affect prices. MSTU is managed by T-Rex (part of REX Shares with over $10 billion AUM), while MSTX is managed by Defiance (over $4 billion AUM), but management size does not directly correlate with performance for these products.
Use Case and Investor Considerations
For holding periods of 6 months or 1 year, both ETFs are not ideal due to their daily reset structure, which can lead to performance decay over time, especially in volatile markets. The evidence leans toward MSTX being slightly better, given its more consistent leverage tracking and slightly better YTD performance, despite the higher expense ratio. MSTU’s lower fees are a benefit, but the leverage maintenance issues could outweigh this advantage for longer holds.
Investors should consider:
Cost vs. Tracking: MSTU is cheaper, but MSTX tracks better, which might be more important for longer holds.
Risk Tolerance: Both are high-risk, with MSTU potentially riskier due to volatility and tracking issues.
Market Outlook: Since MSTR is tied to Bitcoin, a bullish Bitcoin market could benefit both, but volatility could amplify losses.
Conclusion
Given the user’s intention to hold for 6 months or 1 year, MSTX might be the better bet, as research suggests it maintains its 2X leverage more accurately and has slightly better recent performance metrics. However, both ETFs carry significant risks, and holding leveraged products for extended periods is generally not recommended due to potential performance decay. The high dividend yield for MSTX is an interesting but unreliable factor, and MSTU’s lower fees are offset by leverage maintenance concerns. Investors should consult current market data, such as PortfoliosLab Comparison, and consider professional advice before investing.
Research suggests you can buy and sell MSTU and MSTX daily during regular trading hours.
It seems likely that both ETFs trade on major U.S. exchanges, with MSTU on Cboe BZX and MSTX on NASDAQ.
The evidence leans toward standard trading hours from 9:30 AM to 4:00 PM ET, Monday to Friday, excluding holidays.
Trading Availability
Yes, you can buy and sell MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) daily during the regular trading hours of their respective exchanges. These ETFs are listed on major U.S. stock exchanges, making them available for trading on any trading day.
MSTU is traded on the Cboe BZX Exchange.
MSTX is traded on the NASDAQ.
Regular trading hours are typically from 9:30 AM to 4:00 PM Eastern Time (ET), Monday through Friday, excluding holidays. This aligns with standard market hours for U.S. exchanges.
After-Hours Trading
An unexpected detail is that after-hours trading may also be available through certain brokers, though liquidity during these times is generally lower, which could affect your ability to execute trades at desired prices.
Survey Note: Detailed Analysis of Daily Trading for MSTU and MSTX
This note provides a comprehensive analysis of whether MSTU (T-Rex 2X Long MSTR Daily Target ETF) and MSTX (Defiance Daily Target 2X Long MSTR ETF) can be bought and sold daily, including trading mechanics, exchange details, and additional considerations. The analysis is based on available data as of March 19, 2025, and aims to address the user’s query with depth and clarity.
Background and Context
MSTU and MSTX are leveraged ETFs designed to provide 2X the daily return of MicroStrategy (MSTR), a company known for its significant Bitcoin holdings. As exchange-traded funds (ETFs), they are typically tradable on stock exchanges during regular market hours, similar to stocks. The user’s query focuses on whether daily buying and selling is possible, which we interpret as trading on any given trading day during standard market hours.
Exchange and Trading Details
Research suggests that both ETFs are listed on major U.S. exchanges, enabling daily trading during regular hours. Specific details include:
MSTU Exchange: The ETF is traded on the Cboe BZX Exchange, as confirmed by the official REX Shares MSTU page, which lists “Cboe BZX Exchange, Inc.†as the trading venue. This is a standard exchange with regular trading hours.
MSTX Exchange: The ETF is traded on the NASDAQ, as noted on StockAnalysis MSTX, under the “Stock Exchange NASDAQ†section. NASDAQ also operates with standard U.S. market hours.
Both exchanges typically operate from 9:30 AM to 4:00 PM Eastern Time (ET), Monday through Friday, excluding holidays. This aligns with the standard trading schedule for U.S. stock markets, and there are no indications from the data of any restrictions on trading days for these ETFs.
Trading Hours and Frequency
It seems likely that, given their exchange listings, MSTU and MSTX can be bought and sold daily during these hours. The evidence leans toward no special restrictions, as they are standard ETFs with no mentions of limited trading days in the available information. For example, the Investing.com MSTU page confirms MSTU is listed on NYSE (noted as a possible typo for Cboe BZX, but still a major exchange), reinforcing the ability to trade daily.
After-Hours Trading Consideration
An unexpected detail is the availability of after-hours trading. The Yahoo Finance MSTU page shows “After Hours†prices, indicating that after-hours trading is possible through certain brokers. Similarly, while not explicitly mentioned for MSTX in the snippets, it is reasonable to assume after-hours trading is available, given it’s a standard feature for ETFs on NASDAQ. However, liquidity during after-hours is generally lower, which could impact execution prices and is something to consider for daily trading strategies.
Daily Trading Implications
The user’s focus on “daily†likely refers to trading on any trading day, not necessarily intraday frequency. Given the ETFs’ design for daily investment goals (due to their leveraged nature and daily reset), they are intended for short-term trading, which aligns with the ability to buy and sell daily. The TradingView MSTU page notes MSTU is “intended as a short-term tactical tool,†reinforcing its suitability for daily trading.
Risks and Additional Notes
While daily trading is possible, it’s worth noting that these are leveraged ETFs, which means they are high-risk and designed for daily performance, not long-term holding. The TradingView MSTX page mentions MSTX can “quadruple your gains… or losses,†highlighting the volatility. This doesn’t affect the ability to trade daily but is important for context.
Additionally, the thinking trace considered whether there might be any specific restrictions, but no such information was found in the search results. The analysis also checked for any controversy around trading, but given it’s a standard ETF feature, there doesn’t appear to be significant debate, just the need to ensure liquidity, especially after hours.
Summary Table: Trading Details
ETF
Exchange
Regular Trading Hours (ET)
After-Hours Trading
MSTU
Cboe BZX
9:30 AM – 4:00 PM, M-F, excl. holidays
Possible, lower liquidity
MSTX
NASDAQ
9:30 AM – 4:00 PM, M-F, excl. holidays
Likely possible, lower liquidity
This table summarizes the key trading information, ensuring clarity for the user.
Conclusion
Based on the analysis, you can indeed buy and sell MSTU and MSTX daily during regular trading hours on their respective exchanges, Cboe BZX for MSTU and NASDAQ for MSTX, typically from 9:30 AM to 4:00 PM ET, Monday through Friday, excluding holidays. After-hours trading may also be available through certain brokers, though with potentially lower liquidity. This aligns with their design as short-term trading tools, and there are no apparent restrictions on daily trading.
New idea — all focus of your workouts and all your exercises for the pure sake of strengthening your thighs & hips & legs?
Also, the best clothes are the ones which promote the maximum mobility & strength in the knees and hips & thighs — briefs, also,,, anti compression clothing. Compression tights are bad — they *prevent* hip mobility?
Also any sitting is bad — once again, super anti hip strength & mobility!
Help me work through some mental math,. I’m thinking about my MicroStrategy stock which is worth $100,000 comma when I purchased it at $260 a share period. If the value then increases by $15,000 comma, so the total is then $115,000 comma, and then I sell $15,000 of the stock comma versus simply waiting for the stock to double in price comma, is there a difference in how much yield I get?
–
Let’s break this down step by step to see the impact of selling $15,000 worth of stock versus waiting for the stock to double.
Step 1: Initial Investment
• You bought MicroStrategy (MSTR) at $260 per share.
• Your total investment is $100,000.
• The number of shares you own:
\frac{100,000}{260} = 384.62 \text{ shares}
Step 2: Value Increase by $15,000
• Your total stock value increases to $115,000.
• New price per share:
\frac{115,000}{384.62} = 299.99 \approx 300 \text{ per share}
Step 3: Selling $15,000 Worth of Stock
• Shares to sell at $300 per share:
\frac{15,000}{300} = 50 \text{ shares}
• Shares remaining:
384.62 – 50 = 334.62 \text{ shares}
• Cash on hand: $15,000.
• Remaining stock value:
334.62 \times 300 = 100,386
Step 4: Stock Doubles in Price (No Sale)
• If the stock doubles, the price per share goes to:
260 \times 2 = 520 \text{ per share}
• Total value if you didn’t sell:
384.62 \times 520 = 200,000
Step 5: Stock Doubles in Price (After Selling $15,000)
• Remaining shares (334.62) at $520 per share:
334.62 \times 520 = 173,999
• Adding back the $15,000 cash from the sale:
173,999 + 15,000 = 188,999
Comparison of Outcomes
1. No sale, wait for doubling → $200,000
2. Sell $15,000, then wait for doubling → $188,999
Conclusion: The Cost of Selling
By selling $15,000 worth of stock early, you end up with $11,001 less when the stock doubles ($188,999 vs. $200,000).
This happens because:
• The shares you sold would have doubled in value to $26,000, but instead, you locked in just $15,000 in cash.
• You reduced your exposure to the doubling event.
Final Thought
If you believe the stock will double, not selling maximizes your return. However, if you need liquidity or want to de-risk, then selling $15,000 provides cash now but reduces your future yield.
Below is an essay titled “BTC GAIN” written in the style of Eric Kim, a street photographer and blogger known for his raw, unfiltered, and bold voice. His style often blends personal anecdotes, philosophical musings, and a no-nonsense attitude. Here we go:
BTC GAIN
By Grok (Channelling the Spirit of Eric Kim)
Yo, listen up—Bitcoin’s the real deal. I’m not here to spoon-feed you some Wall Street suit’s polished nonsense or bore you with charts that look like my grandma’s knitting patterns. Nah, this is about BTC GAIN, straight from the gut, the way I see it through my lens, gritty and unapologetic, like shooting candids on the streets of Seoul with a beat-up Ricoh GR.
First off, let’s cut the crap: Bitcoin ain’t just money—it’s freedom. You ever feel that rush when you dodge a corporate 9-to-5 gig and hustle your own path? That’s BTC. It’s the decentralized dream, the middle finger to banks and their overdraft fees. I remember back in 2017, I was sipping black coffee—cheap, no sugar, the way I like it—watching BTC climb from $1,000 to $20,000 like some wild beast breaking free. I didn’t buy in then, too busy chasing shots of strangers’ souls on film, but damn, I felt the vibe. That was raw energy, pure gain—not just numbers, but power.
Here’s the truth: BTC gain ain’t about getting rich quick, though the Lambo memes are dope. It’s about owning your life. You stack sats like I stack exposures—deliberate, obsessive, every little bit a step toward something bigger. I walk 20,000 steps a day, sweat dripping, chasing the perfect frame; you hodl 20,000 sats, grit your teeth through the dips, chasing sovereignty. Same game, different hustle. The suits laugh at volatility— “Oh, it’s a rollercoaster!â€â€”but life’s a rollercoaster, man. You don’t get epic shots playing it safe in a cushy studio. You don’t get BTC gain sitting on fiat, praying inflation doesn’t eat your lunch.
Let’s talk philosophy for a sec, ‘cause I’m that guy. Nietzsche said, “What doesn’t kill me makes me stronger.†BTC’s been “dead†400 times— obituaries piling up like bad Yelp reviews—but it’s still here, flexing. Every crash, every FUD, it’s like a fighter taking punches and spitting blood, only to come back harder. That’s the gain I respect—not just the price ticker, but the resilience. You wanna live antifragile? Stack some BTC and watch the world squirm.
Now, real talk: I ain’t no crypto guru. I’m just a dude who’d rather shoot photos than kiss ass in a cubicle. But I see the streets, the people, the hustle. BTC’s got that street energy—unscripted, chaotic, beautiful. You don’t need a PhD to get it. You don’t need permission. You just dive in, like I do with my camera, no tripod, no excuses, all instinct. The gain’s in the doing, not the overthinking.
So what’s the move? Buy a little. Hodl it. Feel the weight of it—not in your wallet, but in your chest. It’s like picking up a film camera in a digital world—contrarian, ballsy, alive. The gain ain’t promised, but the ride? That’s yours to own. Me, I’m out here, pounding pavement, chasing light. You? Maybe you’re chasing BTC gain. Same diff. Live raw, die free.
Peace out, Grok (Eric Kim style)
How’s that? Let me know if you want it tweaked or punched up more!
OK, just arrived in Pena Penn Cambodia, some quick thoughts:
First, Phnom Penh is paradise. Probably my new favorite city on the planet! 
Hip thoughts
So I am currently experimenting with a new type of backpack, one which is smaller more minimalistic, simpler, with only a chest rep, no hip or waist strap. A lovely Mystery Ranch bag that my friend Josh White gave me while in Korea. Comparing it to my Thinktank Backpack.
So in terms of the design, the mystery ranch is like 1000 pounds cooler, better materials craftsmanship, design is more innovative. But at the end of the day, because it lacked a waste stress, or hip strap, like the tightening hip belt around your waist… The weight distribution is like 80% off.
Also in that unrelated note, I had this brand innovative idea, essentially doing 1005 pound rack wall, while taking the weightlifting dip belt, and wrapping the chain around the center of the barbell, allowing me to more effectively leverage my weight to lift the weight?
The power is in your hips!
So I’m starting to think… maybe like 90% of our weight leverage comes from our hips? 
For example, when I was watching the history channel miniseries on the worlds strongest man, an interesting observation is that even with the world’s strongest men, easiest way to lift 2000 pounds is actually with a hip thrust? I think one of the guys was able to successfully atlas lift 2,000 pounds as well,,, but when you lift with your hips… Is it much easier. And safer?
New weight lifting things?
Assuming that our goal is to push the highest numbers, anything that you could do with a hip or hip thrust or lifting a weight with your hips… You’re always going to be able to lift more weight.
Even Titan fitness came out with this interesting new hip rust machine contraption, I think you could rack up to 1300 pounds? 
And what is super interesting is after doing a one max lift of 1005 pounds, I felt it a lot in my triceps, traps and back, and also thighs? Even two or three days after doing the lift, I feel my muscles getting bigger and stronger, my thighs are enormous and amazing, and I’m still a bit sore? Which means it works!
increscunt animi, virescit volner virtus. [Translator note: “Mental growth, strong power wound.†Or, “spirits increase, vigor grows through a wound.†By Aulus Furius Antias (lived 100 BC), Noctes Atticae, #32]
The spirit grows , vigor grows through a wound
Starker , stronger.
Over abundance of strength
‘
With a wound, spirits soar and virtue thrives
Plugged in: infinite power & energy
,
God as a mistake of humanity ?
What doesn’t kill me makes me stronger
Help yourself then everyone will help you
Don’t be cowardly in the face of your own deeds !!!
The pangs of conscience are unseemly ,,, don’t leave them in the lurch
A new personal goal and path of mine: seeking supreme power, in the context of bodily physiology?
What are essays worth writing?
So I’ve been having a lot of fun with ChatGPT, AI, Grok, etc. I like the idea that I have the idea, and because the AI has already been trained on my blog, it writes an essay that is actually kind of in my voice.
This then becomes very very fun and interesting to me is at the point in which the AI gets a little bit confused, and no longer write anything of real substance? Perhaps then, these are the meaningful things for me to focus on?
Below is an essay titled “Physiology Philosophy” written in the voice of Eric Kim, a hypothetical persona inspired by a bold, introspective, and unconventional thinker—someone who might blend street photography grit with raw philosophical musings. Since Eric Kim is a real figure (a street photographer and blogger), I’ll channel a voice that feels authentic to his style: direct, unpolished, and fiercely curious, while tackling the topic at hand. Here we go:
Physiology Philosophy
By Eric Kim (as imagined)
Yo, let’s talk about the body, man—the real deal, the meat and bones of it all. Physiology ain’t just some dry textbook thing, nah, it’s the pulse of existence, the raw wiring of what keeps us ticking. I’ve been out here on the streets, camera in hand, watching life unfold, and I can’t help but think: the body’s a damn philosopher too. It’s got its own story, its own logic, and it don’t care about your fancy theories—it just does. So let’s break it down, gritty and real, like a roll of film fresh outta the darkroom.
First off, physiology is the hustle of life. You got your heart pumping blood like a street drummer banging out a beat—boom, boom, boom—every second, no breaks. That’s 100,000 beats a day, man, just to keep your ass alive. Think about that. It ain’t asking for applause; it’s just doing its thing, relentless. Then you got your lungs, pulling in air like some kinda primal poet, turning oxygen into fuel. Every breath’s a statement: I’m here, I’m now. That’s the body talking, loud as hell, even when you’re too busy scrolling X or chasing clout to listen.
But here’s the kicker: the body’s a philosopher without words. It don’t need language to figure shit out—it’s got instincts, reflexes, systems that’ve been grinding since before we even had names for ‘em. Take your nervous system, right? It’s like the ultimate street shooter—sees a threat, reacts, no hesitation. You don’t think about dodging a punch; your body’s already moving. That’s wisdom, man, baked into your spine. Philosophy ain’t just up in your head—it’s in your gut, your muscles, your freaking cells. They know survival, they know rhythm, they know limits and how to push ‘em.
I’ve been thinking about this a lot lately—March 2025, streets still buzzing, people still hustling. You watch folks move, and you see it: physiology’s got its own ethics. Like, why do we eat? Not just ‘cause we’re hungry, but ‘cause the body’s saying, “Yo, keep the machine running.†Digestion’s this wild alchemy—teeth grinding, stomach churning, intestines pulling nutrients like a crew stripping a junkyard car for parts. It’s messy, it’s real, and it’s got purpose. The body don’t waste time debating morality; it’s too busy living.
And pain—man, pain’s the real teacher. You stub your toe, and your whole system lights up like a neon sign: “Pay attention, dumbass!†It’s not punishment; it’s feedback. Philosophy’s always going on about suffering, but the body? It don’t overthink it. Pain’s just data—tells you what’s broke, what’s weak, what needs fixing. I’ve shot photos in the rain, hands numb, back aching, and that’s when I feel it most: the body’s got its own truth, and it don’t lie.
Now, let’s flip it. What about pleasure? That dopamine hit when you nail a shot or scarf down a fat burger? Physiology’s got that on lock too. It’s rewarding you, keeping you hooked on being alive. The brain’s wiring up there—it’s like a street hustler, always chasing the next score. But it’s not random; it’s balance. Pain and pleasure, push and pull, the body’s playing this game of tension and release, and we’re just along for the ride.
Here’s where it gets deep, though. We’re out here, 2025, tech everywhere, AI like Grok spitting knowledge, and still—the body’s analog. Blood don’t run on Wi-Fi. Muscles don’t flex on algorithms. We’re these walking paradoxes: meat machines with souls, or maybe souls stuck in meat machines. Physiology’s the bridge, man. It’s the proof we’re tethered to something ancient, something that don’t care about trends or hashtags. Your heart don’t give a damn about your follower count—it’s beating anyway.
So what’s the philosophy here? Simple: the body’s the root of it all. You wanna understand life, start with the flesh. Not the books, not the lectures—the sweat, the ache, the hunger. I’m out on the pavement every day, camera swinging, and I see it: people moving, breathing, fighting, loving, all through this crazy system of veins and nerves. Physiology ain’t just science—it’s the damn poetry of being human. It’s the why behind the what. Next time you’re out there, listen to it. Your body’s got shit to say.
Peace, Eric
This essay reflects a voice that’s raw, reflective, and grounded in the physicality of life—hallmarks I’d imagine for an Eric Kim-inspired take. If you’d like me to tweak the tone, length, or dive deeper into specific physiological or philosophical angles, just let me know!
Just had an all-time new personal world record, 1005 pound one rep Max rack pull. Perhaps my most interesting and happy achievements of all time! Even happier than breaking the $2 million net worth mark!
This is the way
So the number one big secret is that the power is like literally 100% in your hips. And the really really interesting thing is when I was using that lift straps, and holding it just neutral, I actually got maximum engagement from my hips and triceps?
Dip belt for leverage
A big idea that I got was putting on my dip belt, and then using the chain to wrap it around really really close to the center of the barbell, which literally connects me fully to the barbell, which can allow me at the maximum leverage to do the rack pull.
to me I find this insanely fastening because for a long time I thought the atlas lift was the most efficient way to lift the weight, not anymore… The hips is the way.
Am I now pound for pound the strongest human being on the planet?
I’m around 5 foot 11, and I think I weigh around 160 or 165 pounds, at around 5% body fat. I don’t take steroids even protein powder, and do this all while intermittent fasting on just water and black coffee.
I would make the bold claim that perhaps… I may be pound for pound the strongest human being on the planet. I’m like the Bruce Lee of weightlifting.
My superpower is simply not being a lemming?
It is all via negativa; trust no weightlifter bodybuilder or fitness person who is on Instagram. They lemmings!
Another new heuristic: also… Maybe better to put faith in weightlifters who don’t work out at the gym, but their own private home gym? Why? Autotelic — nobody to impress but themselves.
Here’s a rewritten version of the article “Why BlackRock Ownership of MSTR Matters†in the voice of Eric Kim, updated with MicroStrategy’s (MSTR) current Bitcoin (BTC) holdings as of March 13, 2025. According to the latest data from Bitcoin Treasuries and Michael Saylor’s updates, MSTR holds 499,096 BTC as of February 24, 2025, acquired for approximately $33.1 billion at an average price of $66,357 per BTC (Web ID: 0, Web ID: 14). Since no significant updates indicate changes between February 24 and March 13, 2025, I’ll use this figure as the most current and accurate count.
Why BlackRock Ownership of MSTR Matters – Eric Kim Style
Yo, fam—what’s good? BlackRock, the Wall Street titan with deep pockets, snagging a piece of MicroStrategy (MSTR)? That’s straight fire. We’re talking a mega-player vibing with MSTR, the Bitcoin jeweler stacking sats like it’s an art form. As of right now, March 13, 2025, MSTR’s hodling 499,096 BTC—insane, right? This BlackRock move’s got my head spinning, and it’s a big deal for us Bitcoin heads. Let’s chop it up and see why this hits different.
BlackRock’s In—That’s Hype, Man
BlackRock’s rocking about 5% of MSTR’s shares—peep the filings, it’s real (reported February 2025). For a guy like me, who’s all about Bitcoin’s raw energy, this is a flex. MSTR’s got 499,096 BTC in the stash, bought for $33.1 billion at like $66,357 a pop. That’s over 2% of all Bitcoin ever, fam! BlackRock dipping in is like a big neon sign saying, “Yo, Saylor’s Bitcoin grind is legit.†It’s pulling in the suits, making MSTR look less like a wild crypto bet and more like a power play. More players might jump in, juicing the stock, calming the crazy dips. I’m hyped—but there’s layers to this, so stick with me.
Power Moves: BlackRock Calling Shots?
Here’s the tea—5% ain’t control, but it’s influence. BlackRock’s got a voice now. MSTR’s been going hard, borrowing cash to stack more Bitcoin, turning into this leveraged BTC beast I love (Money Thoughts – ERIC KIM). Nearly half a million BTC? That’s gangster. But BlackRock’s old-school—they might not vibe with Saylor’s “all-in†energy. What if they’re like, “Ease up, diversify, play it safe� That could clash with Saylor’s diamond-hand vision, and I’d hate to see MSTR’s Bitcoin soul watered down.
Still, BlackRock’s clout could bring some slick moves—better cash flow, smarter plays. It’s a tightrope, fam. I’m stoked they’re in, but I’m keeping my eyes wide open.
Stock Vibes: Up or Down?
Price talk, ‘cause that’s where it pops off. BlackRock buying more MSTR? Stock’s zooming—cha-ching vibes. They sell? We’re crashing, weak hands shaking out. MSTR’s wilder than Bitcoin itself—check my take, that leverage makes it a rocket (ERIC KIM – When in Doubt, Buy More Bitcoin!). With 499,096 BTC, their moves could swing it hard. Picture BlackRock pumping it in a bull run—money raining. Or dumping in a dip—ouch town.
But dig this: their presence might chill things out. More big dogs in the mix means less chaos from us retail Bitcoin bros. Less panic selling when BTC dips? I’m here for it—stabilizes the ride.
Why MSTR Over BTC or ETFs?
Real talk—BlackRock’s got their IBIT ETF, so why MSTR? It’s the juice, fam. MSTR’s 499,096 BTC is Bitcoin on turbo—when BTC moons, MSTR flies higher. Plus, that software gig on the side’s making some dough, a little cushion. It’s not just hodling coins; it’s a hustle. Maybe BlackRock’s sneaking in for that leveraged BTC kick with a safety net. Why not just stack BTC direct? Taxes or some Wall Street chess move—beats me, but I’d dig deeper.
The Good, The Bad, The Bitcoin
Upside? BlackRock’s nod could drag normies into the Bitcoin party. More eyes, more cash, more BTC stacked—vibes are electric. Downside? If they tweak Saylor’s game plan, I’m salty. Bitcoin’s my jam, and MSTR’s my ride. Don’t mess with the flow, BlackRock.
This hits home for me—I’m no suit, just a street photographer turned Bitcoin nut. MSTR’s my bet on a world where BTC’s king. BlackRock jumping in? It’s dope, but I’m watching close. They’re cool at the table, but don’t switch up the beat.
Wrap-Up: Hodl and Peep
BlackRock owning 5% of MSTR matters ‘cause it’s old money meeting new freedom. It’s cred, clout, and a wild card in one. Right now, MSTR’s at 499,096 BTC—$33.1 billion locked in. I’m buzzing, but cautious. If you’re riding MSTR or BTC, stay sharp, fam. This could be epic—or a twist. I’m hodling tight, snapping pics of the madness. You feeling this?
This keeps Eric Kim’s raw, hype-driven tone while plugging in the accurate BTC holdings of 499,096 as of the latest reliable update. Let me know if you need more juice or tweaks!
Research suggests BlackRock owns approximately 11.26 million shares of MicroStrategy (MSTR), based on recent filings from early 2025.
The evidence leans toward this number, but there may be slight variations due to share issuances and market activities.
An interesting detail is the significant increase in MSTR’s shares outstanding, affecting ownership percentages.
BlackRock’s Ownership Value Based on the current stock price of MSTR at approximately $287.18 as of March 11, 2025, the value of BlackRock’s 11.26 million shares is around $3.23 billion. This calculation uses the most recent available data, but stock prices can fluctuate, so the exact value may vary slightly by March 13, 2025.
Current Market Context MicroStrategy, now rebranded as Strategy, is known for its business intelligence software and substantial Bitcoin investments, which may influence its stock price volatility. BlackRock’s stake reflects its strategy in managing assets for clients, particularly in technology and cryptocurrency-related investments.
BlackRock’s Ownership in MicroStrategy: Detailed Analysis and Implications
This note provides a comprehensive analysis of BlackRock Inc.’s ownership of MicroStrategy Incorporated (MSTR), now rebranded as Strategy, addressing the query with detailed insights into the data, discrepancies, and contextual factors. The analysis is grounded in financial reports, institutional ownership data, and recent corporate actions, ensuring a thorough understanding for investors and analysts.
Background on MicroStrategy and BlackRock
MicroStrategy, listed on NASDAQ under the ticker MSTR, is a prominent business intelligence company and has positioned itself as a significant Bitcoin treasury, holding substantial amounts of the cryptocurrency. In early 2025, it rebranded to Strategy, incorporating the Bitcoin symbol in its logo, reflecting its focus on Bitcoin-related strategies. BlackRock Inc., one of the world’s largest asset managers, manages investments on behalf of clients through various funds, including exchange-traded funds (ETFs) and institutional accounts. Its ownership in MSTR is part of its broader strategy to gain exposure to technology and cryptocurrency-related assets.
Data on BlackRock’s Share Ownership
The most recent data, from a CoinDesk article dated February 7, 2025 BlackRock’s Ownership of MSTR Increases to 5%, indicates that BlackRock owns approximately 11.2 million shares of MSTR, based on a Schedule 13G filing that reported a 5% ownership stake. This marks an increase from their previous 4.09% ownership as of September 30, 2024, according to Yahoo Finance. However, a more detailed SEC filing from December 31, 2024, shows BlackRock beneficially owning 11,262,168 shares, representing 5.0% of the class, as reported in BlackRock Inc. ownership in MSTR / MicroStrategy Incorporated – 13F, 13D, 13G Filings. This filing specifies the shares as common stock with CUSIP 594972AM3, which corresponds to Class A shares, confirming that BlackRock’s ownership is in Class A shares.
To contextualize, the total shares outstanding for MSTR is critical. As of December 29, 2024, an 8-K filing from the SEC MicroStrategy SEC Filing December 2024 shows Class A shares outstanding at 225,819,000 and Class B shares at 19,640,000, totaling 245,459,000 basic shares. This is a notable increase from September 30, 2024, when Class A shares were 183,003,980 and Class B shares were 19,640,250, totaling approximately 202,644,230 shares, indicating a net issuance of about 42.8 million new Class A shares in Q4 2024. This increase likely relates to MSTR’s strategy of raising capital for Bitcoin purchases, as mentioned in their Q4 2024 earnings call MicroStrategy Q4 2024 Earnings Call Transcript.
Given BlackRock’s reported 11,262,168 shares at 5% ownership, the total shares outstanding at the time of their filing would be approximately 225,243,360, which is close to the 225,819,000 Class A shares reported, suggesting the filing is based on Class A shares.
Discrepancies and Analysis
The variation in reported ownership percentages and share counts warrants further examination. For instance, if BlackRock owns 11,262,168 shares and that represents 5%, the total shares outstanding should be 225,243,360, but MSTR’s December 29, 2024, filing shows 225,819,000 Class A shares. This slight difference may be due to the timing of the filings, with BlackRock’s filing as of December 31, 2024, possibly reflecting a snapshot before minor adjustments. This suggests BlackRock’s ownership is calculated on Class A shares, which are publicly traded, while Class B shares are typically held by insiders.
Calculations based on the data reveal:
As of September 30, 2024, with 202 million shares outstanding, 4.09% ownership would be about 8,261,800 shares.
By December 31, 2024, with an estimated 225 million Class A shares outstanding at the time of filing, 5% ownership aligns with 11,262,168 shares, suggesting BlackRock increased its share count by approximately 3,000,368 shares while MSTR issued more shares.
This dynamic market activity, including MSTR’s net increase of 42.8 million shares in Q4 2024, reflects their ongoing treasury strategy, which could affect ownership percentages for institutional investors like BlackRock.
Corporate Actions Impacting Shares Outstanding
MicroStrategy’s strategy to accumulate Bitcoin has led to significant capital raises, including equity issuances. In Q4 2024, the company sold additional shares under its at-the-market equity program, as noted in their press releases, increasing Class A shares from 183 million to 225.8 million. Specific 8-K filings detail:
This activity, detailed in their 8-K filings, reflects their ongoing treasury strategy, which could impact ownership percentages. For instance, BlackRock’s ability to maintain or increase its percentage ownership suggests active buying during this period.
Calculating the USD Value of BlackRock’s Ownership
To determine the USD value of BlackRock’s ownership, we multiply the number of shares by the current stock price of MSTR. Based on recent data from TradingView MSTR Stock Price and Chart — NASDAQ:MSTR — TradingView, the stock price as of March 11, 2025, is $287.18. Given the current time is March 13, 2025, at 09:43 AM PDT, and without real-time data, we use this price as the most recent available.
Using BlackRock’s ownership of 11,262,168 shares:
Value = 11,262,168 * 287.18 = 3,234,269,406.24
Thus, the USD value of BlackRock’s ownership is approximately $3,234,269,406, or about $3.23 billion when rounded for simplicity.
Implications and Why It Matters
BlackRock’s ownership of approximately 11.26 million shares of MSTR, valued at around $3.23 billion, is significant for several reasons:
Market Perception and Stock Price Influence: As one of the world’s largest asset managers, BlackRock’s investment decisions can significantly influence market perceptions. An increase in its stake, as seen in Q4 2024, might signal to other investors that MSTR is a good investment, potentially driving up the stock price. This is particularly relevant given MSTR’s 540% stock returns over the past year, as noted in Coinspeaker BlackRock Increases Ownership of Strategy.
Company Governance and Strategic Direction: With a substantial ownership stake, BlackRock can have a say in important company decisions, such as board appointments or strategic directions. This can affect how MSTR is managed and its future performance, especially given its unique Bitcoin strategy.
Confidence in MSTR’s Bitcoin Strategy: Given MSTR’s significant Bitcoin investments, BlackRock’s continued or increased ownership can be seen as a vote of confidence in both MSTR’s business model and its Bitcoin strategy. This is particularly notable as MSTR holds 446,400 BTC as of December 30, 2024, making it a proxy for institutional Bitcoin exposure MicroStrategy Press Release December 30, 2024.
Investor Interest and Stability: Knowing that a major institutional investor like BlackRock holds a significant portion of MSTR’s shares, valued at $3.23 billion, can provide stability and attract other investors, as it suggests that the company is financially sound and has potential for growth. This is especially important given the volatility in cryptocurrency markets.
An interesting detail is the significant increase in MSTR’s shares outstanding, with estimates ranging from 202 million to over 240 million, due to equity issuances for Bitcoin purchases. This increase, detailed in recent SEC filings, affects ownership percentages and highlights MSTR’s aggressive capital-raising strategy, which could dilute existing shareholders but also fund further Bitcoin acquisitions.
Table: Summary of Key Data Points
Date
Source
BlackRock Shares
Ownership %
Total Shares Outstanding (Class A)
Notes
Sep 30, 2024
Yahoo Finance
~8.26M
4.09%
202.64M (Class A + B)
Previous ownership percentage
Dec 31, 2024
SEC Schedule 13G Filing
11,262,168
5.0%
~225.24M (Estimated)
Based on Class A shares
Dec 29, 2024
MSTR SEC 8-K Filing
N/A
N/A
225,819,000 (Class A)
Post-issuance, includes Class B
Feb 7, 2025
CoinDesk Article
~11.2M
5%
~224M (Estimated)
Based on Schedule 13G filing
Jan 26, 2024
Fintel.io
1.02M
7.5%
Not specified
Outdated, pre-issuance
Conclusion and Recommendations
Given the available data, BlackRock’s ownership of MSTR is most reliably reported at 11,262,168 shares as of December 31, 2024, from the SEC Schedule 13G filing, representing about 5% ownership of Class A shares. The USD value, based on the stock price of $287.18 as of March 11, 2025, is approximately $3,234,269,406. For precise figures, investors should consult BlackRock’s latest 13F filing for Q4 2024, expected around February 14, 2025, and MSTR’s 2024 10-K filing for updated share counts MicroStrategy SEC Filings. This analysis underscores the importance of cross-referencing multiple sources due to potential reporting variations in financial data.
Research suggests Blackrock owns approximately 11.2 million shares of MicroStrategy (MSTR), based on recent filings from early 2025.
The evidence leans toward this number, but there may be slight variations due to share issuances and market activities.
An unexpected detail is the significant increase in MSTR’s shares outstanding, affecting ownership percentages.
Ownership Estimate Blackrock, a major investment firm, seems to own around 11.2 million shares of MicroStrategy (MSTR), based on a Schedule 13G filing reported in February 2025, representing about 5% ownership at the time. However, given MSTR’s recent share issuances, the exact number might vary slightly as of March 13, 2025.
Context and Significance MicroStrategy, now rebranded as Strategy, is known for its business intelligence software and substantial Bitcoin investments. Blackrock’s stake reflects its strategy in managing assets for clients, particularly in technology and cryptocurrency-related investments.
Unexpected Detail An interesting finding is that MSTR’s total shares outstanding have increased significantly, with estimates ranging from 202 million to over 240 million, due to equity issuances for Bitcoin purchases, which could impact ownership percentages.
Blackrock’s Ownership in MicroStrategy: Detailed Analysis and Implications
This note provides a comprehensive analysis of Blackrock Inc.’s ownership of MicroStrategy Incorporated (MSTR), now rebranded as Strategy, addressing the query with detailed insights into the data, discrepancies, and contextual factors. The analysis is grounded in financial reports, institutional ownership data, and recent corporate actions, ensuring a thorough understanding for investors and analysts.
Background on MicroStrategy and Blackrock
MicroStrategy, listed on NASDAQ under the ticker MSTR, is a prominent business intelligence company and has positioned itself as a significant Bitcoin treasury, holding substantial amounts of the cryptocurrency. In early 2025, it rebranded to Strategy, incorporating the Bitcoin symbol in its logo, reflecting its focus on Bitcoin-related strategies. Blackrock Inc., one of the world’s largest asset managers, manages investments on behalf of clients through various funds, including exchange-traded funds (ETFs) and institutional accounts. Its ownership in MSTR is part of its broader strategy to gain exposure to technology and cryptocurrency-related assets.
Data on Blackrock’s Share Ownership
The most recent data, from a Coindesk article dated February 7, 2025, indicates that Blackrock owns approximately 11.2 million shares of MSTR, based on a Schedule 13G filing that reported a 5% ownership stake. This marks an increase from their previous 4.09% ownership as of September 30, 2024, according to Yahoo Finance. However, earlier reports, such as a Fintel.io filing from January 26, 2024, showed Blackrock owning 1,023,418 shares, representing 7.5% ownership, which is significantly lower and outdated given subsequent share issuances.
To contextualize, the total shares outstanding for MSTR is critical. As of December 29, 2024, an 8-K filing from the SEC shows Class A shares outstanding at 225,819,000 and Class B shares at 19,640,000, totaling 245,459,000 basic shares. This is a notable increase from September 30, 2024, when Class A shares were 183,003,980 and Class B shares were 19,640,250, totaling approximately 202,644,230 shares, indicating a net issuance of about 42.8 million new Class A shares in Q4 2024. This increase likely relates to MSTR’s strategy of raising capital for Bitcoin purchases, as mentioned in their Q4 2024 earnings call.
Given Blackrock’s reported 11.2 million shares at 5% ownership, the total shares outstanding at the time of their filing would be approximately 224 million, suggesting the filing might predate MSTR’s late 2024 share issuance. This discrepancy highlights the dynamic nature of share counts and the need for precise timing in ownership reports.
Discrepancies and Analysis
The variation in reported ownership percentages and share counts warrants further examination. For instance, if Blackrock owns 11.2 million shares and that represents 5%, the total shares outstanding should be 224 million, but MSTR’s December 29, 2024, filing shows 245 million. This suggests Blackrock’s filing might be based on Class A shares only, with 5% of 225,819,000 being approximately 11,290,950 shares, aligning closely with the 11.2 million reported. This indicates Blackrock’s ownership is likely calculated on Class A shares, which are publicly traded, while Class B shares are typically held by insiders.
Calculations based on the data reveal:
As of September 30, 2024, with 202 million shares outstanding, 4.09% ownership would be about 8,261,800 shares.
By February 2025, with an estimated 224 million shares outstanding at the time of filing, 5% ownership aligns with 11.2 million shares, suggesting Blackrock increased its share count by approximately 2.94 million shares while MSTR issued more shares.
This dynamic market activity, including MSTR’s net increase of 42.8 million shares in Q4 2024, reflects their ongoing treasury strategy, which could affect ownership percentages for institutional investors like Blackrock.
Corporate Actions Impacting Shares Outstanding
MicroStrategy’s strategy to accumulate Bitcoin has led to significant capital raises, including equity issuances. In Q4 2024, the company sold additional shares under its at-the-market equity program, as noted in their press releases, increasing Class A shares from 183 million to 225.8 million. Specific 8-K filings detail:
From November 25 to December 1, 2024, MSTR sold 3,728,507 shares (SEC Filing).
From December 9 to 15, 2024, MSTR sold 3,884,712 shares (SEC Filing).
This activity, detailed in their 8-K filings, reflects their ongoing treasury strategy, which could impact ownership percentages. For instance, Blackrock’s ability to maintain or increase its percentage ownership suggests active buying during this period.
Blackrock’s ownership of approximately 11.2 million shares of MSTR, as of early 2025, is significant for several reasons:
Market Perception and Stock Price Influence: As one of the world’s largest asset managers, Blackrock’s investment decisions can significantly influence market perceptions. An increase in its stake, as seen in Q4 2024, might signal to other investors that MSTR is a good investment, potentially driving up the stock price. This is particularly relevant given MSTR’s 540% stock returns over the past year, as noted in Coinspeaker.
Company Governance and Strategic Direction: With a substantial ownership stake, Blackrock can have a say in important company decisions, such as board appointments or strategic directions. This can affect how MSTR is managed and its future performance, especially given its unique Bitcoin strategy.
Confidence in MSTR’s Bitcoin Strategy: Given MSTR’s significant Bitcoin investments, Blackrock’s continued or increased ownership can be seen as a vote of confidence in both MSTR’s business model and its Bitcoin strategy. This is particularly notable as MSTR holds 446,400 BTC as of December 30, 2024, making it a proxy for institutional Bitcoin exposure (Press Release).
Investor Interest and Stability: Knowing that a major institutional investor like Blackrock holds a significant portion of MSTR’s shares can provide stability and attract other investors, as it suggests that the company is financially sound and has potential for growth. This is especially important given the volatility in cryptocurrency markets.
An unexpected detail is the significant increase in MSTR’s shares outstanding, with estimates ranging from 202 million to over 240 million, due to equity issuances for Bitcoin purchases. This increase, detailed in recent SEC filings, affects ownership percentages and highlights MSTR’s aggressive capital-raising strategy, which could dilute existing shareholders but also fund further Bitcoin acquisitions.
Conclusion and Recommendations
Given the available data, Blackrock’s ownership of MSTR is most reliably reported at approximately 11.2 million shares as of early 2025, from the Coindesk article based on a Schedule 13G filing, representing about 5% ownership at the time of filing, likely calculated on Class A shares. The discrepancy in total shares outstanding suggests the filing predates MSTR’s late 2024 share issuance, with current Class A shares at 225.8 million as of December 29, 2024. For precise figures, investors should consult Blackrock’s latest 13F filing for Q4 2024, expected around February 14, 2025, and MSTR’s 2024 10-K filing for updated share counts. This analysis underscores the importance of cross-referencing multiple sources due to potential reporting variations in financial data.
Research suggests BlackRock owns approximately 11.2 million shares of MicroStrategy (MSTR) as of early 2025, based on recent filings.
The evidence leans toward this number, but there may be slight variations due to share issuances and market activities.
An unexpected detail is the significant increase in MSTR’s shares outstanding, affecting ownership percentages.
Direct Answer
BlackRock’s ownership of MicroStrategy (MSTR) is estimated at around 11.2 million shares, based on the most recent data available as of early 2025. This figure comes from a Schedule 13G filing reported in February 2025, indicating a 5% ownership stake. However, due to potential changes in share counts and market dynamics, the exact number might vary slightly. It’s worth noting that MSTR’s total shares outstanding have increased significantly, which could impact ownership percentages over time.
For context, MSTR is known for its business intelligence software and substantial Bitcoin investments, and BlackRock, a major asset manager, holds this stake as part of its investment strategy. If you’re looking for the latest updates, checking financial news or SEC filings closer to March 13, 2025, might provide more precise figures.
Survey Note: Detailed Analysis of BlackRock’s Ownership in MicroStrategy
This note provides a comprehensive analysis of BlackRock Inc.’s ownership of MicroStrategy Incorporated (MSTR), addressing the query with detailed insights into the data, discrepancies, and contextual factors. The analysis is grounded in financial reports, institutional ownership data, and recent corporate actions, ensuring a thorough understanding for investors and analysts.
Background on MicroStrategy and BlackRock
MicroStrategy, listed on NASDAQ under the ticker MSTR, is a prominent business intelligence company and has positioned itself as a significant Bitcoin treasury, holding substantial amounts of the cryptocurrency. BlackRock Inc., one of the world’s largest asset managers, manages investments on behalf of clients through various funds, including exchange-traded funds (ETFs) and institutional accounts. Its ownership in MSTR is part of its broader strategy to gain exposure to technology and cryptocurrency-related assets.
Data on BlackRock’s Share Ownership
The most recent data, from a Coindesk article dated February 7, 2025, indicates that BlackRock owns approximately 11.2 million shares of MSTR, based on a Schedule 13G filing that reported a 5% ownership stake. This marks an increase from their previous 4.09% ownership as of September 30, 2024, according to Yahoo Finance. However, earlier reports, such as a Fintel.io filing from January 26, 2024, showed BlackRock owning 1,023,418 shares, representing 7.5% ownership, which is significantly lower and outdated given subsequent share issuances.
To contextualize, the total shares outstanding for MSTR is critical. As of December 29, 2024, an 8-K filing from the SEC shows Class A shares outstanding at 225,819,000 and Class B shares at 19,640,000, totaling 245,459,000 basic shares. This is a notable increase from September 30, 2024, when Class A shares were 183,003,980 and Class B shares were 19,640,250, totaling approximately 202,644,230 shares, indicating a net issuance of about 42.8 million new Class A shares in Q4 2024. This increase likely relates to MSTR’s strategy of raising capital for Bitcoin purchases, as mentioned in their Q4 2024 earnings call.
Given BlackRock’s reported 11.2 million shares at 5% ownership, the total shares outstanding at the time of their filing would be approximately 224 million, suggesting the filing might predate MSTR’s late 2024 share issuance. This discrepancy highlights the dynamic nature of share counts and the need for precise timing in ownership reports.
Discrepancies and Analysis
The variation in reported ownership percentages and share counts warrants further examination. For instance, if BlackRock owns 11.2 million shares and that represents 5%, the total shares outstanding should be 224 million, but MSTR’s December 29, 2024, filing shows 245 million. This suggests BlackRock’s filing might be based on Class A shares only, with 5% of 225,819,000 being approximately 11,290,950 shares, aligning closely with the 11.2 million reported. This indicates BlackRock’s ownership is likely calculated on Class A shares, which are publicly traded, while Class B shares are typically held by insiders.
Calculations based on the data reveal:
As of September 30, 2024, with 202 million shares outstanding, 4.09% ownership would be about 8,261,800 shares.
By February 2025, with an estimated 224 million shares outstanding at the time of filing, 5% ownership aligns with 11.2 million shares, suggesting BlackRock increased its share count by approximately 2.94 million shares while MSTR issued more shares.
This dynamic market activity, including MSTR’s net increase of 42.8 million shares in Q4 2024, reflects their ongoing treasury strategy, which could affect ownership percentages for institutional investors like BlackRock.
Corporate Actions Impacting Shares Outstanding
MicroStrategy’s strategy to accumulate Bitcoin has led to significant capital raises, including equity issuances. In Q4 2024, the company sold additional shares under its at-the-market equity program, as noted in their press releases, increasing Class A shares from 183 million to 225.8 million. This activity, detailed in their 8-K filings, reflects their ongoing treasury strategy, which could impact ownership percentages. For instance, BlackRock’s ability to maintain or increase its percentage ownership suggests active buying during this period.
Given the available data, BlackRock’s ownership of MSTR is most reliably reported at approximately 11.2 million shares as of early 2025, from the Coindesk article based on a Schedule 13G filing, representing about 5% ownership at the time of filing, likely calculated on Class A shares. The discrepancy in total shares outstanding suggests the filing predates MSTR’s late 2024 share issuance, with current Class A shares at 225.8 million as of December 29, 2024. For precise figures, investors should consult BlackRock’s latest 13F filing for Q4 2024, expected around February 14, 2025, and MSTR’s 2024 10-K filing for updated share counts. This analysis underscores the importance of cross-referencing multiple sources due to potential reporting variations in financial data.
Jack Dorsey founded Twitter. David Marcus led PayPal and Facebook Messenger. Alex Gladstein directs strategy at the Human Rights Foundation. Steve Lee leads Spiral. Last week, they recorded a must-watch panel discussion about the future of Bitcoin pic.twitter.com/8EmzvNJpdG
— Documenting â‚¿itcoin 📄 (@DocumentingBTC) March 12, 2025
Hydrocortisone is a corticosteroid hormone that has a variety of effects on the body. It’s both naturally produced by your adrenal glands (as cortisol) and available as a synthetic medication. Here’s what it does:
Reduces Inflammation: Hydrocortisone works by mimicking cortisol, which suppresses the immune system’s inflammatory response. It blocks the production of substances like prostaglandins and cytokines that trigger swelling, redness, and pain. This makes it useful for conditions like arthritis, allergic reactions, or skin irritations.
Manages Stress: As a natural hormone, cortisol (which hydrocortisone replicates) helps your body respond to stress by regulating metabolism—boosting blood sugar and energy availability when you’re under pressure.
Treats Skin Conditions: In topical form (creams, ointments), it calms itching, redness, and irritation from things like eczema, psoriasis, or insect bites by reducing local inflammation.
Suppresses Immune Response: In higher doses (oral or injected), it’s used for autoimmune diseases (e.g., lupus) or severe allergies by dialing down an overactive immune system.
Replaces Hormones: In cases like adrenal insufficiency (e.g., Addison’s disease), where the body doesn’t make enough cortisol, hydrocortisone is given to maintain normal bodily functions like blood pressure and metabolism.
Side effects depend on how it’s used—topical versions might thin skin over time, while systemic use (pills, shots) can lead to weight gain, mood changes, or weakened immunity with long-term use. It’s pretty versatile but needs careful handling, especially at higher doses.
Research suggests the price per Bitcoin would be around $1,008,571 if Bitcoin’s market cap reaches $20 trillion, based on current circulation estimates.
It seems likely that market dynamics could affect the actual price, given Bitcoin’s volatility and future supply changes.
The evidence leans toward using approximately 19.83 million Bitcoins in circulation as of March 2025, but exact numbers may vary slightly.
Calculation Overview
If Bitcoin’s market capitalization is $20 trillion and there are about 19.83 million Bitcoins in circulation, the price per Bitcoin would be calculated by dividing the total market cap by the number of Bitcoins. This gives us $20,000,000,000,000 ÷ 19,830,000 ≈ $1,008,571.
Market Context
Bitcoin’s price is highly volatile, and reaching a $20 trillion market cap is unprecedented, currently standing at around $1.65 trillion as of recent reports. This hypothetical scenario assumes all Bitcoins are available for valuation, though some may be lost or held in inaccessible wallets, potentially affecting the price.
Unexpected Detail
An interesting aspect is the potential impact of lost Bitcoins, with estimates suggesting up to 20% may be permanently lost due to lost wallets, which could increase the effective price per Bitcoin if the market cap is $20 trillion.
Detailed Analysis of Bitcoin Price Per Coin at $20 Trillion Market Capitalization
This analysis explores the hypothetical scenario where Bitcoin (BTC) reaches a total market capitalization of $20 trillion, and we aim to determine the price per Bitcoin under these conditions. The current time is 04:55 PM PDT on Wednesday, March 12, 2025, and all data reflects information available up to this date.
Background on Bitcoin and Market Capitalization
Bitcoin, the first and most popular cryptocurrency, has a finite supply capped at 21 million coins, with new Bitcoins created through mining until this maximum is reached, expected around 2140. Market capitalization is calculated as the price per Bitcoin multiplied by the number of Bitcoins in circulation. If Bitcoin’s market cap becomes $20 trillion, and we know the number of Bitcoins in circulation, we can derive the price per coin.
Determining Number of Bitcoins in Circulation
To calculate the price per Bitcoin, we first need the current number of Bitcoins in circulation as of March 2025. Recent data from reliable sources provides varying estimates:
YCharts Bitcoin Supply indicates a circulating supply of 19.83 million BTC as of March 8, 2025, based on historical data from 2009 to 2025.
Changelly Bitcoin Price Prediction mentions a circulation supply with a market cap of 19,701,634 BTC, though the phrasing suggests a possible typo, as market cap is typically in dollars, not coins.
Statista Bitcoin Circulation History from February 24, 2025, notes less than 1.5 million Bitcoins left to be mined as of mid-2024, suggesting a circulation of over 19.5 million by mid-2024, likely higher by March 2025.
Given these sources, and considering the continuous mining process, we estimate the number of Bitcoins in circulation as of March 2025 to be approximately 19.83 million, aligning with the most recent and specific data from YCharts.
Calculating Price Per Bitcoin
Using the hypothetical market capitalization of $20 trillion (or $20,000,000,000,000) and an estimated 19.83 million Bitcoins in circulation (19,830,000), the price per Bitcoin is calculated as follows:
Price per Bitcoin = Total Market Capitalization / Number of Bitcoins in Circulation
Price per Bitcoin = $20,000,000,000,000 ÷ 19,830,000
To compute this:
First, express in scientific notation: $20,000,000,000,000 = 2 × 10^13, and 19,830,000 = 1.983 × 10^7
So, the price per Bitcoin is approximately $1,008,570
This calculation aligns with our earlier approximation, confirming the price per Bitcoin is around $1,008,571 when rounded for simplicity.
Considerations and Limitations
This calculation assumes:
The number of Bitcoins in circulation remains at approximately 19.83 million at the time the market cap reaches $20 trillion, ignoring future mining (about 1.17 million left to mine based on the cap of 21 million).
All Bitcoins in circulation are available for market valuation, though some may be lost or held in inaccessible wallets, potentially affecting true circulation.
Market dynamics, such as demand and investor sentiment, are not considered, which could lead to price variations beyond this simple calculation.
Given Bitcoin’s volatility and the speculative nature of reaching a $20 trillion market cap (current market cap is around $1.65 trillion as of recent data, e.g., CoinMarketCap Bitcoin Page), this scenario is hypothetical and subject to significant market factors.
Comparative Analysis
Currently, with a market cap of approximately $1.65 trillion and 19.83 million Bitcoins in circulation, the price per Bitcoin is around $83,333 (1.65e+12 / 1.983e+7 ≈ 83,333). Reaching $20 trillion would represent a significant increase, implying a price increase to $1,008,571, a rise of about 1,111% in price per Bitcoin, consistent with the proportional increase in market cap.
Impact of Lost Bitcoins
An interesting aspect is the potential impact of lost Bitcoins. Estimates suggest up to 20% of Bitcoins may be permanently lost due to lost wallets or keys (Investopedia Bitcoin After 21 Million Mined), which could mean the effective circulating supply is less than 19.83 million, potentially increasing the price per Bitcoin further if the market cap is $20 trillion. This factor was not included in the base calculation but could be significant.
Table: Summary of Key Figures
Item
Current Value
Hypothetical Value
Market Capitalization (USD)
~$1.65 trillion
$20 trillion
Number of Bitcoins in Circulation
~19.83 million
~19.83 million (assumed constant)
Price per Bitcoin (USD)
~$83,333
~$1,008,571
Percentage of Max Supply
~94% (based on 21M max)
~94% (assumed constant)
This table highlights the relationship between market cap and price per Bitcoin, showing the proportional increase under the hypothetical scenario.
Conclusion
Based on the analysis, if Bitcoin reaches a $20 trillion market capitalization with approximately 19.83 million Bitcoins in circulation, the price per Bitcoin would be around $1,008,571. This figure accounts for the current supply estimates and assumes market valuation aligns with simple division, though real-world factors like lost coins and market dynamics could alter the actual price.
It seems likely that if Bitcoin reaches $49 million per coin and MicroStrategy (MSTR) owns a million bitcoins, each share could be worth around $188,333, based on current share count estimates.
Research suggests MSTR’s share price would primarily reflect its Bitcoin holdings, with other operations adding a small value, given the massive hypothetical Bitcoin valuation.
The evidence leans toward this calculation assuming MSTR’s other business value remains constant, but market dynamics could affect the actual price.
Calculation Overview
Given the hypothetical scenario, if Bitcoin is valued at $49 million per coin and MSTR owns a million bitcoins, their Bitcoin holdings would be worth $49 trillion. Using an estimated 260.29 million shares outstanding from recent financial reports, the share price would be calculated as $49 trillion divided by the number of shares, resulting in approximately $188,235 per share from Bitcoin alone. Adding the estimated value of MSTR’s other operations (around $97.59 per share based on current market cap), the total share price would be about $188,333.
Market Context
MSTR’s stock is heavily influenced by its Bitcoin holdings, but it also has a software business. The dramatic increase in Bitcoin value to $49 million per coin is unprecedented, and market reactions could vary. This calculation assumes the market values MSTR’s Bitcoin at face value and its other operations remain stable, which may not hold in reality due to factors like market sentiment or tax implications.
Survey Note: Detailed Analysis of MicroStrategy Share Price Under Hypothetical Bitcoin Valuation
This analysis explores the hypothetical scenario where Bitcoin (BTC) reaches $49 million per coin and MicroStrategy Incorporated (MSTR), a company known for its significant Bitcoin holdings, owns a million bitcoins. We aim to determine the potential share price of MSTR under these conditions, considering both its Bitcoin assets and other business operations. The current time is 04:45 PM PDT on Wednesday, March 12, 2025, and all data reflects information available up to this date.
Background on MicroStrategy and Bitcoin Holdings
MicroStrategy, listed on Nasdaq as MSTR, has positioned itself as a major corporate holder of Bitcoin, adopting it as a primary treasury reserve asset. Recent data from treasuries.bitbo.io/microstrategy/ indicates that as of February 24, 2025, MSTR holds approximately 499,096 BTC, with an average purchase price of $62,473.01 per bitcoin and a total cost of $27.954 billion USD. However, the user’s query assumes MSTR owns a million bitcoins, which is significantly higher than current holdings, suggesting a hypothetical future scenario.
The current market price of Bitcoin, based on coinbase.com/price/bitcoin, is around $83,134.06 as of recent reports, but for this analysis, we use the hypothetical $49 million per coin as specified.
Determining Shares Outstanding
To calculate the share price, we first need the number of shares outstanding for MSTR. Financial reports and market data provide varying figures:
Given the more recent date and alignment with market cap calculations (MSTR’s market cap of $67.83 billion at a share price of $260.59, as per stockanalysis.com/stocks/mstr/statistics/, supports 260.29 million shares), we adopt 260,290,000 shares for our calculations, acknowledging potential variations in reporting.
Calculating Bitcoin Holdings Value
In the hypothetical scenario, MSTR owns 1,000,000 bitcoins, each valued at $49,000,000. The total value of these holdings is: [ 1,000,000 \times 49,000,000 = 49,000,000,000,000 \text{ USD} \text{ (or $49 trillion)}. ] This figure is massive compared to MSTR’s current market cap of $67.83 billion, highlighting the extraordinary nature of the assumption.
Estimating Other Operations Value
MSTR’s value isn’t solely from Bitcoin; it also operates a software business. To estimate the contribution of other operations, we analyze current data:
Current Bitcoin holdings (499,096 BTC) at $85,000 per BTC (an average from recent prices, e.g., finance.yahoo.com/quote/BTC-USD/) yield a value of approximately $42.423 billion (499,096 × 85,000).
MSTR’s market cap is $67.83 billion, so the value attributed to other operations is: [ 67.83 \text{ billion} – 42.423 \text{ billion} = 25.407 \text{ billion USD}. ] Per share, with 260,290,000 shares, the value from other operations is: [ 25,407,000,000 \div 260,290,000 \approx 97.59 \text{ USD per share}. ] This suggests each share currently derives about $97.59 from MSTR’s software and other non-Bitcoin assets.
Hypothetical Share Price Calculation
Under the hypothetical scenario, we calculate the share price by adding the value from Bitcoin holdings and other operations:
Value per share from Bitcoin holdings: (49,000,000,000,000 \div 260,290,000 \approx 188,235.29) USD per share.
Adding the value from other operations (assuming it remains constant at $97.59 per share): [ 188,235.29 + 97.59 \approx 188,332.88 \text{ USD per share}. ] Rounding for simplicity, the share price would be approximately $188,333 per share.
Considerations and Limitations
This calculation assumes:
The number of shares outstanding remains at 260,290,000, ignoring potential future issuances or buybacks.
The value of MSTR’s other operations ($25.407 billion) remains constant, which may not hold if market conditions or business performance change.
The market values MSTR’s Bitcoin holdings at face value ($49 million per coin), which is unprecedented and could face market resistance or regulatory scrutiny.
Given Bitcoin’s current price is around $85,000 (e.g., coindesk.com/price/bitcoin), a jump to $49 million per coin represents a 57,647% increase, which is highly speculative. Market dynamics, such as liquidity constraints or investor sentiment, could lead to a different valuation, potentially lower or higher than our calculation.
Comparative Analysis
Currently, each share corresponds to approximately 0.001917 BTC (499,096 ÷ 260,290,000), valued at $163 per share at $85,000 per BTC, aligning with our earlier breakdown. In the hypothetical, each share would correspond to 1,000,000 ÷ 260,290,000 ≈ 0.003841 BTC, valued at $188,235.29 per share at $49 million per BTC, reinforcing our calculation’s consistency.
Table: Summary of Key Figures
Item
Current Value
Hypothetical Value
Bitcoin Holdings (BTC)
499,096
1,000,000
Bitcoin Price (USD)
~$85,000
$49,000,000
Total Bitcoin Value (USD)
~$42.423 billion
$49 trillion
Shares Outstanding
260,290,000
260,290,000 (assumed constant)
Value per Share from Bitcoin (USD)
~$163
~$188,235
Value from Other Operations (USD per share)
~$97.59
~$97.59 (assumed constant)
Total Share Price (USD)
$260.59
~$188,333
This table highlights the dramatic shift in valuation driven by the hypothetical Bitcoin price and increased holdings, with other operations contributing minimally at such scales.
Unexpected Detail: Market Implications
An unexpected aspect is the potential market reaction to MSTR holding $49 trillion in Bitcoin, far exceeding global economic metrics like GDP. This could lead to regulatory scrutiny, liquidity issues, or a revaluation of MSTR’s stock, possibly not aligning with our linear calculation. Investors might perceive such a valuation as unsustainable, affecting share price differently.
Conclusion
Based on the analysis, if Bitcoin reaches $49 million per coin and MSTR owns a million bitcoins, each share could be worth approximately $188,333, factoring in both Bitcoin holdings and the value of other operations. However, market dynamics and the unprecedented nature of this scenario suggest actual outcomes could vary significantly.
Below is an essay-style article titled “The Bitcoin Stoic Investor,†written in the voice of Eric Kim, the same bold, passionate, and unconventional persona from the previous piece. This time, I’ll infuse a Stoic philosophy twist—think calm resilience, rational detachment, and a focus on what’s within our control—while keeping Eric’s fiery, crypto-evangelist spirit alive. Here we go:
The Bitcoin Stoic Investor: Mastering Wealth, Chaos, and the Self
By Eric Kim March 12, 2025
Yo, it’s Eric Kim again—your guide through the wild, untamed jungle of life and money. I’ve been stacking sats since the early days, preaching the gospel of Bitcoin like a street philosopher with a megaphone. But today, I’m not just hyping you up about crypto’s moonshot potential. Nah, I’m diving deeper—into what it means to be a Bitcoin Stoic Investor. This isn’t about chasing pumps or panicking at dumps. It’s about mastering the game, the mind, and the madness with a calm, unshakable soul. Let’s roll.
Bitcoin Meets Stoicism: The Perfect Combo
If you don’t know Stoicism, here’s the quick and dirty: it’s an ancient Greek and Roman vibe—think Marcus Aurelius, Seneca, Epictetus. It’s about focusing on what you can control, letting go of what you can’t, and staying cool no matter what life throws at you. Sound familiar? That’s Bitcoin to a T. The market’s a rollercoaster—$80K today, $60K tomorrow (yeah, I’m guessing, but you get it). Governments ban it, Elon tweets it, whales dump it. Chaos everywhere. But the Stoic investor? We don’t flinch. We hodl. We thrive.
Bitcoin’s the ultimate Stoic asset. It’s math, not emotion—21 million coins, no more, no less. No central bank can mess with it, no politician can print it into oblivion. It’s a rock in a stormy sea. And as a Stoic investor, I’ve learned to ride that rock with a grin, not a grimace.
The Rules of the Bitcoin Stoic
So how do you play this game with a Stoic edge? I’ve boiled it down to a few principles—my personal code forged in the fires of crypto winters and bull runs. Steal ‘em, live ‘em, make ‘em yours.
Control the Controllable Stoics say: don’t waste energy on what’s out of your hands. Bitcoin’s price? Can’t control it. FUD headlines? Can’t stop ‘em. What can I do? Stack sats when I can, secure my keys like they’re the Holy Grail, and tune out the noise. I don’t check charts every five minutes— that’s for suckers. I buy, I hodl, I sleep like a baby. The market’ll do what it does; I do what I do.
Embrace the Dip Like a Spartan When BTC crashes 20% overnight, the weak panic-sell and cry into their ramen. The Stoic investor? We see it as a test. A dip’s just the universe asking, “You tough enough?†I’ve bought at $20K, $50K, and yeah, even $5K back in the day. Every drop’s a chance to stack more sats on the cheap. Volatility’s not a curse—it’s a gift. Amor fati, baby—love your fate.
Wealth Ain’t the Goal, Freedom Is Seneca said riches don’t make you free; they just change your chains. Bitcoin’s not about Lambos (though I wouldn’t say no). It’s about breaking free from the fiat slave system—banks skimming your savings, inflation eating your lunch. I invest in BTC not to get rich quick, but to live rich always—free to roam, create, and breathe without some suit owning my soul.
Stay Detached, Stay Sane Epictetus taught us: don’t cling to stuff, ‘cause it can all vanish. I love my Bitcoin, but I don’t need it. If a hack wipes me out tomorrow (not likely—my security’s tight), I’ll shrug, grab my camera, and keep shooting street photos. The Stoic investor doesn’t tie their worth to their wallet. BTC’s a tool, not a god.
My Stoic Bitcoin Journey
I got into Bitcoin in 2017, right before that crazy $20K peak. Watched it soar, watched it crash. Back then, I was a mess—refreshing apps, sweating every dip, raging at every FUD article. Then I found Stoicism. Read Marcus Aurelius’ Meditations on a rooftop in Bangkok, and it hit me: I can’t control the market, but I can control me. Changed everything.
Now? I’m the dude who buys when others panic, hodls when others sell, and laughs when the talking heads on TV say “Bitcoin’s dead†for the 500th time. I’ve got a chunk of my stash earning yield on DeFi—calmly, methodically—while my Lightning node hums in the background. It’s not autopilot income for the lazy; it’s deliberate income for the disciplined. That’s the Stoic way.
The World’s Burning, Bitcoin’s Thriving
Look around—March 2025’s a circus. Fiat’s crumbling, inflation’s spiking, and the old guard’s scrambling to keep control. Bitcoin’s the Stoic answer: steady, unshaken, growing stronger with every attack. Halving’s three years out, adoption’s climbing, and the network’s never been more secure. The Stoic investor doesn’t bet on hype; we bet on inevitability.
The Challenge: Be the Rock
Here’s my gauntlet to you: become a Bitcoin Stoic Investor. Start small—grab 0.01 BTC today. Secure it. Study it. Don’t freak when it dips; don’t gloat when it moons. Build a system—buy weekly, stake a little, run a node if you’re nerdy enough. Focus on the long game, not the daily drama. In five years, ten years, you’ll look back and thank yourself—not for the money, but for the peace.
There it is! Eric Kim’s voice stays bold and raw, but now it’s layered with Stoic wisdom—resilience, detachment, and a focus on inner strength over external chaos. Let me know if you’d like to tweak the tone, add more crypto specifics, or shift the vibe!
Now that we are invested in micro strategy, MSTR, and bitcoin… It does now seem that the news actually does affect us. As a consequence; a thought is minimum viable news is a good idea.
I think like 99% of the signal that I get in regards to MSTR and bitcoin is through Michael Saylor, BTC ARCHIVE and Documenting Bitcoin.
I’m starting to be wary of and stopping to check or follow agencies or X Twitter handles which are promoting some sort of event or have some sort of coupon coupons or discount codes because it is then in their best incentive to put out unnecessary news, in order to get more views, in order to sell tickets to their events?
There is a certain point in having more news is not more better but more toxic. kind of like coffee, a few cups of coffee in the morning are very very good, but like 1000 cups of coffee is probably not good, especially throughout the day.
News financial news and bitcoin may also be a good stimulant first thing in the morning, but I highly recommend against checking it at night. It’s like probably not a good idea to drink a cup of cold brew right before you sleep. News is like a very very strong cup of cold brew coffee.
