PANews reported on December 22 that according to Barron's, the Bitcoin premium of MicroStrategy's stock (measured by the ratio of enterprise value - market value plus net debt - to the value of the company's Bitcoin holdings) continues to shrink. The company is currently valued at about twice the value of its Bitcoin holdings, with a holding of about 439,000 Bitcoins (Barron's estimates). This ratio has dropped from a peak of 3.5 times in November to twice the current level, indicating that MicroStrategy's stock price has failed to keep up with the recent correction in Bitcoin prices after breaking through $100,000. Given that there is still a high Bitcoin premium in the stock, MicroStrategy's stock price may face more downside. Currently, MicroStrategy's market value is about $79 billion, of which Bitcoin holdings are worth about $43 billion. The company also has $7 billion in debt. Excessive premiums may make MicroStrategy's stock price prone to corrections when the premium further shrinks.