Micro-Strategy Spent 835 Million US Dollars and Sweeped 8,178 Bitcoins! The total holdings are approaching 650,000 BTC. Is the market going to stop falling?
Strategy, the leader in Bitcoin holdings, issued an announcement as scheduled on the evening of the 17th, announcing that it spent US$835 million to buy another 8,178 Bitcoins from November 10 to November 16. The average purchase price of each Bitcoin was US$102,171.
(Previous summary: Gold master Peter Schiff launched a micro-strategy fraud: Michael Saylor Bitcoin strategy is not profitable at all)
(Background supplement: Michael Saylor clarified: Micro-strategy did not sell Bitcoin! A new buying plan will be announced next Monday, will BTC rebound?)
Micro-Strategy (Strategy), the dominant Bitcoin position, released an announcement as scheduled today (17th) evening, announcing that it will During November 16, he spent US$835 million to buy another 8,178 Bitcoins, with the average purchase price of each Bitcoin being US$102,171.
The MicroStrategy announcement pointed out that after this increase in position, the number of Bitcoins it holds has reached 649,870, and the total purchase cost has also risen to US$48.37 billion, with the average purchase price of each Bitcoin being US$74,433.
MicroStrategy continued to point out that the funds for the purchase of Bitcoin mainly came from the funds raised through the issuance of STRE perpetual special shares, totaling approximately US$700 million; the remaining funds came from funds raised by Microstrategy through other stocks issued through its ATM plan.
Micro-strategy restarts the buy-buy-buy mode?
In fact, this large increase in positions was announced as early as last week. At that time, Bitcoin fell below the $100,000 mark, and the community once speculated whether MicroStrategy was going to sell Bitcoin due to changes in MicroStrategy’s wallet. However, at that time Michael Saylor, the founder of MicroStrategy, clarified that MicroStrategy not only did not sell Bitcoin, but also continued to buy it, and the buying intensity this time would be very large.
Currently, what concerns the community is that when Bitcoin was at a high price, MicroStrategy only bought a few hundred Bitcoins per week, and its intention is understandable. But now that Bitcoin has fallen below $100,000, and even further dropped below $95,000, whether MicroStrategy will continue this large-amount buying plan and increase its buying efforts in the next few weeks deserves our continued attention.
Further reading: Michael Saylor clarifies: MicroStrategy did not sell Bitcoin! A new buying plan will be announced next Monday, will BTC rebound?
Bitcoin is on the rise?
However, despite the huge number of purchases announced by MicroStrategy this time, the price of Bitcoin does not seem to be supported by the news at the same time. In the continued decline today, Bitcoin once fell below US$94,000 at around 21:50 in the evening, reaching a minimum of US$93,560. In the next few weeks, let us wait and see whether MicroStrategy, a super Bitcoin giant, can use practical actions to help investors rebuild their confidence.
