Why MicroStrategy Just Bought More BTC

Article source, here.

TL;DR

• MicroStrategy is the largest holder of BTC of any public company and they just bought another 1049 BTC ($29.3M USD).

• Given today's price is close to $MSTR's basis (the price per coin they've bought in at on average), this could be their last chance at reducing that average buy in price for a while (ever?).

• Maybe $MSTR knows something we don't and there's about to be a push up over the current resistance level of $30k; or maybe they're just doing their normal $MSTR thing and putting all of their cash reserves into BTC whenever they can.

Full Story

The $MSTR team are back at it.

If you haven't heard, MicroStrategy is the largest holder of BTC of any public company.

And they just bought another 1049 BTC ($29.3M USD)...Bringing their total up to 140,000 BTC.

We know MicroStrategy founder, Michael Saylor, is a huge Bitcoin bull, so the news isn't that surprising, but why now?

That 140k BTC was acquired since 2020 for ~$4.17 Billion USD at an average price of $29,803 per Bitcoin.

Today's price (at the time of writing): $28,072

Saylor has been very public about his opinions on BTC being the best hedge against inflation, and a dependable store of value.

Given today's price is close to $MSTR's basis (the price per coin they've bought in at on average), this could be their last chance at reducing that average buy in price for a while (ever?).

They're dollar-cost-averaging on a massive scale.

Does this mean $MSTR knows something we don't and there's about to be a push up over the current resistance level of $30k?

They do have access to some pretty insane looking tools (most of which we have no idea how to use).

Or maybe they're just doing their normal $MSTR thing and putting all of their cash reserves into BTC whenever they can.

Either way, looking forward to seeing some more very direct Tweets from Saylor if/when BTC hits $30k.