MicroStrategy's stock price has skyrocketed sixfold over the past year and nearly twentyfold in five years, all thanks to its unique ATM financing mechanism. Through this approach, MicroStrategy can flexibly raise funds during Bitcoin price peaks, avoiding the issues of discounted issuance that come with large-scale share offerings, while ensuring that all investors have the opportunity to participate, not just institutional ones.

MicroStrategy was once a victim of the 2000 internet bubble, with its stock price falling from $300 to $0.42. In 2020, the company's founder shifted its focus to cryptocurrency investment, positioning Bitcoin as "the most valuable asset in the world." With the recovery of Bitcoin, MicroStrategy's market value once approached $70 billion, and its stock price rose sixfold in a year, nearly twentyfold over the past five years.

The company has significantly increased its Bitcoin holdings through equity and debt financing, leveraging the appreciation of Bitcoin to achieve wealth growth. Its ATM (At-the-Market) financing model allows the company to gradually issue new shares into the market without the need for additional regulatory filings. This model ensures that all investors have equal opportunities to participate, aligning with the decentralized spirit of cryptocurrency.

MicroStrategy's "21/21 Plan" aims to raise $42 billion over the next three years, primarily for purchasing Bitcoin. This plan has already secured over $3.5 billion through the ATM method, with an expectation to acquire nearly 600,000 Bitcoins, representing 3% of the total Bitcoin supply.

The advantages of the ATM mechanism lie in its flexibility, enabling fundraising at price peaks while avoiding discounted issuance, making it particularly suitable for high-volatility stocks. MicroStrategy's high trading liquidity allows for large-scale stock sales, with its market value currently reflecting a 2.8 times premium over its Bitcoin holdings.

How to Trade on uSMART

After logging into the uSMART HK APP, click on the search icon at the top right of the screen. Enter the stock code, such as "MSTR.US" to access detailed information, trading history, and trends. Click the “Trade” button at the bottom right, select the “Buy/Sell” function, and submit your order after filling in the transaction conditions.

（Source: uSMART HK）

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