Bitcoin evangelists continue to increase their holdings, reaffirming their long-term position.
Bitcoin evangelist Michael Saylor has pressed the 'buy' button again. According to MicroStrategy's 8-K filing with the SEC on June 30, the company purchased another 4,980 Bitcoins between June 23 and 29, at a total cost of $531.9 million, with an average purchase price of about $106,801.
This transaction increased the company's total Bitcoin holdings to 597,325 BTC, accounting for about 2.8% of the Bitcoin circulation, with an average cost of $70,982. This increase continues MicroStrategy's strategy of 'only increasing and not decreasing,' and Saylor emphasized his long-term position again on X platform last weekend: 'After 21 years, you will wish you had bought more Bitcoin back then.'
Funding sources: Three ATM channels
According to documents, MicroStrategy still utilized three 'at-the-market' (ATM) plans to raise cash, including:
· MSTR Common Stock: Sold 1,354,500 shares, raising $519.5 million, remaining quota $18.11 billion.
· STRK 8% Perpetual Preferred Stock: Sold 276,071 shares, raising $28.9 million, remaining quota $20.52 billion.
· STRF 10% Perpetual Preferred Stock: Sold 284,225 shares, raising $29.7 million, remaining quota $1.94 billion.
The three plans collectively raised $578.1 million. In addition to purchasing coins, MicroStrategy also paid dividends for STRK and STRF that matured on June 30.
A remaining $40.6 billion can still be allocated, potential pressures need attention.
Currently, the above three channels have approximately $40.6 billion available for use, providing ammunition for Strategy to continue executing the 'issue shares - buy coins - boost stock price' flywheel model. However, the annual interest rates for preferred stocks are 8% and 10%, and cash flow pressure will increase as the issuance expands; common stockholders will also face stock dilution issues.
MicroStrategy has been included in the Russell 2000 Value Index.
Additionally, according to Bitcoin News, the Russell 2000 Value Index has now included MicroStrategy's stock. The Russell 2000 Value Index is maintained by FTSE Russell and is part of the Russell Index series. It selects stocks with 'value characteristics' from the largest 200 U.S. listed companies in the Russell 3,000 index, measuring the performance of large-cap value stocks in the U.S. through market cap weighting, often serving as a benchmark for large-cap value investments.
Stock price and Bitcoin market performance
According to Google Finance data, MicroStrategy's stock price has risen 34% year-to-date. After the U.S. stock market opened on the evening of June 30, MSTR closed at $404.23, up 5.3%, with a market capitalization of approximately $112.9 billion.
In addition, in the Bitcoin market, BTC has been fluctuating around the $107,000 level for over a week, without showing a clear direction.
University Town of Things
Friendly reminder
Cryptocurrencies are highly speculative with significant emotional volatility. To invest prudently, it is crucial to establish an independent risk management system. Paying attention to one's own investment philosophy is more important than blind speculation, and this is a key quality of successful investors.
Sharing tools for intelligent quantitative trading in the cryptocurrency space.
What is quantitative trading?
Quantitative trading refers to using advanced mathematical models to replace subjective human judgment, utilizing computer technology to sift through vast historical data to identify various 'high probability' events that can yield excess returns, significantly reducing the impact of investor emotional fluctuations and avoiding irrational investment decisions in situations of extreme market enthusiasm or pessimism.
Continuously follow: $$$BTC $$$ETH
I am the root of the issue, I am a blogger focused on freshness, check my homepage and follow me. I share daily market updates with my fans.
