MicroStrategy's acquisition of 155 bitcoins is questioned: $30 billion unrealized gains lying flat, waiting for BTC to pull back, or lacking funds to buy coins?

From August 4 to 10, MicroStrategy acquired 155 bitcoins at a price of $18 million, with an average purchase cost of about $116,401. (Background: MicroStrategy's Q2 financial report has arrived, Michael Saylor: This will be the most important event in Strategy's history) (Additional background: MicroStrategy is entangled in lawsuits again: Why do accounting standards cause Michael Saylor significant trouble?) MicroStrategy, the publicly traded company that holds the most bitcoins, was founded by Michael Saylor, who announced later today (11th) that from August 4 to 10, MicroStrategy acquired 155 bitcoins at a price of $18 million, with an average purchase cost of about $116,401. After this acquisition, MicroStrategy's bitcoin holdings reached 628,946, with a total purchase cost of $46.1 billion, and the average purchase price per bitcoin was $73,288, which is far below the current market price of bitcoin. Strategy has acquired 155 BTC for ~$18.0 million at ~$116,401 per bitcoin and has achieved BTC Yield of 25.0% YTD 2025. As of 8/10/2025, we hodl 628,946 $BTC acquired for ~$46.09 billion at ~$73,288 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/bx0814RI1w — Michael Saylor (@saylor) August 11, 2025 The community is curious: Why so few? However, it is worth noting that MicroStrategy's purchase of 155 bitcoins has led the community to wonder 'Why so few?' Previously, MicroStrategy often spent tens of millions or even hundreds of millions of dollars to buy bitcoins, fulfilling its long-term commitment to buy and hold. Therefore, this small purchase has led to various speculations in the community: First, does MicroStrategy not have enough funds to buy bitcoins? Second, is this acquisition a symbolic purchase, as MicroStrategy may have predicted a pullback in bitcoin prices soon, and thus chose to wait for a larger purchase during the pullback? Third, the unrealized gains of bitcoins on MicroStrategy's account have already exceeded $30 billion, and MicroStrategy does not need to make substantial purchases to realize huge profits, so perhaps MicroStrategy will not make large purchases in the future? However, some defend MicroStrategy, stating that it had just spent $2.46 billion to increase its bitcoin holdings, and might want to take a break this time. MicroStrategy has ample ammunition The community's speculation about the latter two questions has not yet been confirmed. But regarding whether MicroStrategy still has enough funds to purchase bitcoin, the announcement from MicroStrategy has actually provided an answer. According to the announcement, the funds that can still be raised under its ATM plan include: $17 billion limit of Common ATM $20.4 billion limit of STRK ATM $1.8 billion limit of STRF ATM $4.1 billion limit of STRD ATM $4.2 billion limit of STRC ATM MSTR rose 2% in pre-market trading According to Google Finance data, although the number of bitcoins acquired by MicroStrategy has raised doubts in the community, its stock still slightly rose by 2% before the U.S. stock market opened, with a pre-market quote of $403 and a market capitalization of $112 billion. Related reports MicroStrategy Strategy increases its bitcoin holdings by $2.46 billion! Completed the largest STRC preferred stock IPO of the year, BTC falls below $118,000 BNB breaks $860 to set a new high! Market capitalization surpasses MicroStrategy, Nike, SoftBank, Nano Labs increased its holdings by 8,000 BNB Investment bank TD Cowen: MicroStrategy's premium is 'reasonable and transparent', MSTR expected to reach $680 "MicroStrategy's acquisition of 155 bitcoins is questioned: $30 billion unrealized gains lying flat, waiting for BTC to pull back, or lacking funds to buy coins?" This article was first published on BlockTempo (BlockTempo - the most influential blockchain news media).