Between August 4 and August 10, MicroStrategy acquired 155 bitcoins for $18 million, with an average purchase cost of approximately $116,401.
Michael Saylor, the founder of MicroStrategy, the publicly traded company with the most bitcoins, posted today (11th) announcing that between August 4 and August 10, MicroStrategy acquired 155 bitcoins for $18 million, with an average purchase cost of approximately $116,401.
After this acquisition, MicroStrategy's bitcoin holdings have reached 628,946 bitcoins, with a total purchase cost of $46.1 billion, and the average purchase price per bitcoin is $73,288, which is far below the current market price of bitcoin.
The community is curious: Why so few?
However, it is worth noting that MicroStrategy purchased 155 bitcoins this time, which has sparked curiosity in the community: "Why so few?" Previously, MicroStrategy would spend tens of millions or even hundreds of millions of dollars to purchase bitcoins to fulfill its long-term buy-and-hold promise. 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 purchase a symbolic acquisition? MicroStrategy might have predicted that bitcoin will experience a pullback soon, so they chose to wait for a pullback before making a significant purchase? Third, the unrealized gains on MicroStrategy's bitcoin holdings have already exceeded $30 billion, meaning they may not need to make large purchases to realize substantial profits anytime soon. Thus, perhaps in the future, MicroStrategy will not make large purchases anymore?
However, some have defended MicroStrategy, claiming that just recently, they spent $2.46 billion to acquire more bitcoins, and perhaps they want to take a break this time.
MicroStrategy is well-funded
The community cannot yet confirm the speculations regarding the last two questions. However, regarding whether MicroStrategy still has enough funds to purchase bitcoins, the MicroStrategy announcement has actually provided an answer. According to the content of the MicroStrategy announcement, the funds that can still be raised under their ATM plan include:
$17 billion limit Common ATM
$20.4 billion limit STRK ATM
$1.8 billion limit STRF ATM
$4.1 billion limit STRD ATM
$4.2 billion limit STRC ATM
MSTR rose 2% in pre-market
According to Google Finance data, although the amount of bitcoins acquired by MicroStrategy has raised questions in the community, their stock still slightly rose by 2% before the US stock market opened, with a pre-market quote of $403 and a market cap of $112 billion.
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