MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

[Wind_FURY]

[edited out]

What actions, and a dumbass about what? For buying the DIP/believing that there's a Four-Year-Cycle during the past Bull and Bear Cycles?

I have already explained myself more than sufficiently on this point.

[edited out]

I respect your viewpoint, but why are you mad when someone prefers Buying The DIP during Bear Cycles as a default strategy?

I have already responded to this too, including that I am not mad, even if I might end up calling you names (or wanting to call you names) at various points along the way... which you tend to bring upon yourself with your repeatedly asking such dumb questions, your repeating your various dumb ideas about buying the dip as if it were a good idea, and your ongoing failing/refusing to substantively respond to points that I have already made.  Maybe you want me to (or you are asking me to) call you names?

[edited out]

How would buying with almost everything I have during the 2019 DIPs during April that year would "fucked me in the past"?
 
Plus if you believe DCA is superior, OK. You do you.

Why do I have to repeat myself?  You are not even dealing with the actual facts.  You waited for three years before you got started, and you would have been better to start out in May 2016 rather than waiting nearly 3 years.  And, sure there are other examples besides that (that I have already gone over) such as your waiting for a further dip down to sub $20k in August 2023 rather than buying at $27k-ish.

Your lecturing and spouting out about buying the dip does not even go very well with your actual facts... and you have never really shown how what you supposedly have been doing would have had actually beat a regular ongoing practice such as DCA... and yeah, you do not even need to give your actual numbers, just use some kind of a budget of a guy with a certain amount of money and compare buy the dip with DCA.

I don't know why you keep repeating yourself. Haha.

     

Whenever I express my viewpoint that buying the DIP is a Golden Opportunity for us plebs, and that there's a high probability that Bitcoin will go near, or will touch, or go below its 200-Weekly SMA, you are always there to call me names and you keep telling me I'm a dumb-ass.

Why? Plus you tell me I'm the arrogant one? Laughable.

[JayJuanGee]

[edited out]

I don't know why you keep repeating yourself. Haha.

Whenever I express my viewpoint that buying the DIP is a Golden Opportunity for us plebs, and that there's a high probability that Bitcoin will go near, or will touch, or go below its 200-Weekly SMA, you are always there to call me names and you keep telling me I'm a dumb-ass.

Why? Plus you tell me I'm the arrogant one? Laughable.

You are likely mostly ONLY hurting yourself with such nonsense, since there are quite a few guys who are not following your ideas, even though you keep repeating them... Many guys already came to the conclusion that they are better off to ongoingly, consistently, persistently, regularly and perhaps even aggressively buying BTC rather than employing waiting strategies for dips that may well not happen, and even in the buy the dip thread, they saw that they would have had been fucked if they had been following your wait for the dip strategy in 2023 rather than just getting started buying bitcoin... so guys who have been persistently buying since 2023 have likely been better off for such ongoing buying rather than waiting for a possible dip to $56k that may or may not end up happening.

Think about it.  Let's go with May 2023.  If a guy stared buying bitcoin steady from May 1, 2023 until now, his average cost per BTC would be about $55k, and so now you are waiting for the price to drop to $56k so that you can buy, and if you had just stuck with buying bitcoin regularly for that whole time, you would right now have an average of about $55k for those 2.5-ish years that you could have had been buying rather than waiting.

Of course, the numbers look even worse for you if we go back to May 2016. when you waited from May 2016 until April 2019 before you started buying bitcoin, and even though that waiting for the dip plan did not work out so well, you still continue to proclaim a waiting strategy to buy the dip strategy is better than an ongoing buying of bitcoin strategy, even though your own facts do not even support such a conclusion.  

Sure it is ok for you to carry out such ongoing level of dumb, and hopefully not too many newbies are going to get drug into your nonsense ideas out of the belief that they should be gambling with their bitcoin investment rather than getting started as soon as possible and then just continue to accumulate bitcoin for 4-10 years or longer or until they reach a sufficient accumulation level.  

Waiting for the dip that might not come continues to not be a very good alternative, even though surely some guys (besides just you) engage in such a waiting to buy the dip strategy, rather than following an ongoing, consistent, persistent, regular and perhaps even aggressive buying of bitcoin stragegy.

[Popkon6]

Central banks of various countries are using Bitcoin as a transaction and as a holding. This is definitely a positive aspect for Bitcoin, because if central banks support Bitcoin, the people of that country will be attracted to Bitcoin holding. Various officials including the government will also be involved in this Bitcoin holding, they will grasp Bitcoin more.

Which Central Banks are you referring to?
Apart of the Czech Central Bank, which bough a scrap of Bitcoin, most likely a test, I am not aware of other CB’s holding Bitcoin, or any other digital asset (namely, schitcoin).

Look, Taiwan central bank supports Bitcoin, but gradually the central banks of all countries that have adopted Bitcoin as a strategic reserve will support it. Because the Czech central bank has supported Bitcoin.

Taiwan : https://x.com/i/status/1988614554109055319
Czech: https://x.com/i/status/1991280325452845254

[Nothingtodo]

Strategy has acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and has achieved BTC Yield of 24.9% YTD 2025. As of 12/14/2025, we hodl 671,268 $BTC acquired for ~$50.33 billion at ~$74,972 per bitcoin.



https://x.com/i/status/2000552312058880352

Public companies have purchased and held 1,070,000 bitcoins, meaning that if the remaining 30,000 bitcoins are acquired, Satoshi's holdings will exceed 1.1 million bitcoins. Today, MicroStrategy purchased another 10,645 Bitcoins, meaning that with just under 20,000 more Bitcoins, the combined holdings of public companies will exceed Satoshi's accumulated Bitcoins.

[Ambatman]

Strategy has acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and has achieved BTC Yield of 24.9% YTD 2025. As of 12/14/2025, we hodl 671,268 $BTC acquired for ~$50.33 billion at ~$74,972 per bitcoin.

Wow wasn't expecting such amount and had to go check how much MSTR share was priced
And what I saw wasn't surprising.
They have fallen by 8% and not just because of the dilution
But investors losing faith seeing them buying large Bitcoin via Share sales.
There's always a consequence of such actions. MSTR is currently around $162
Like can you imagine. The drop from way up is something.

[jokers001]

Strategy has acquired 10,645 BTC for ~$980.3 million at ~$92,098 per bitcoin and has achieved BTC Yield of 24.9% YTD 2025. As of 12/14/2025, we hodl 671,268 $BTC acquired for ~$50.33 billion at ~$74,972 per bitcoin.

https://www.talkimg.com/images/2025/12/15/UTDNWH.jpeg

They bought Bitcoin, which is one of their DCA strategies, But the company's debt continues to grow, now its total debt is eight billion dollars, even so they are not holding back from buying, believing in Bitcoin. The owner of this company sees Bitcoin as an alternative currency in his long-term plan, so in the future, when the price of Bitcoin continues to create new ATH, perhaps this person will rise to the top of the world's richest list, thanks to his aggressive Bitcoin purchases.

However, the most important thing is that the company now has US dollar cash reserves worth one and a half billion dollars, Perhaps this will give them more confidence in buying Bitcoin because it is a hedge against selling their Bitcoin.

Moreover, the people you mentioned bought 10,645 Bitcoins,They had to sell MSTR stock to make this purchase, from which they received over $800 billion.

[Ambatman]

They bought Bitcoin, which is one of their DCA strategies, But the company's debt continues to grow, now its total debt is eight billion dollars, even so they are not holding back from buying, believing in Bitcoin.

Their current purchase wasn't as a result of debt financing but equity.
They issue for shares for sale and then used the proceeds to buy Bitcoin.

perhaps this person will rise to the top of the world's richest list, thanks to his aggressive Bitcoin purchases.

I hope you are aware that Strategy isn't a one man business? Saylor just have the highest shares and voting right not the owner of all Bitcoin bought by the firm.

Moreover, the people you mentioned bought 10,645 Bitcoins,They had to sell MSTR stock to make this purchase, from which they received over $800 billion.

Sorry I'm lost. The company was the one that used ATM to raise money to buy Bitcoin
Which common shares holders suffer.

[Wind_FURY]

[edited out]

I don't know why you keep repeating yourself. Haha.

Whenever I express my viewpoint that buying the DIP is a Golden Opportunity for us plebs, and that there's a high probability that Bitcoin will go near, or will touch, or go below its 200-Weekly SMA, you are always there to call me names and you keep telling me I'm a dumb-ass.

Why? Plus you tell me I'm the arrogant one? Laughable.

You are likely mostly ONLY hurting yourself with such nonsense, since there are quite a few guys who are not following your ideas, even though you keep repeating them... Many guys already came to the conclusion that they are better off to ongoingly, consistently, persistently, regularly and perhaps even aggressively buying BTC rather than employing waiting strategies for dips that may well not happen, and even in the buy the dip thread, they saw that they would have had been fucked if they had been following your wait for the dip strategy in 2023 rather than just getting started buying bitcoin... so guys who have been persistently buying since 2023 have likely been better off for such ongoing buying rather than waiting for a possible dip to $56k that may or may not end up happening.

Think about it.  Let's go with May 2023.  If a guy stared buying bitcoin steady from May 1, 2023 until now, his average cost per BTC would be about $55k, and so now you are waiting for the price to drop to $56k so that you can buy, and if you had just stuck with buying bitcoin regularly for that whole time, you would right now have an average of about $55k for those 2.5-ish years that you could have had been buying rather than waiting.

Of course, the numbers look even worse for you if we go back to May 2016. when you waited from May 2016 until April 2019 before you started buying bitcoin, and even though that waiting for the dip plan did not work out so well, you still continue to proclaim a waiting strategy to buy the dip strategy is better than an ongoing buying of bitcoin strategy, even though your own facts do not even support such a conclusion.  

Sure it is ok for you to carry out such ongoing level of dumb, and hopefully not too many newbies are going to get drug into your nonsense ideas out of the belief that they should be gambling with their bitcoin investment rather than getting started as soon as possible and then just continue to accumulate bitcoin for 4-10 years or longer or until they reach a sufficient accumulation level.  

Waiting for the dip that might not come continues to not be a very good alternative, even though surely some guys (besides just you) engage in such a waiting to buy the dip strategy, rather than following an ongoing, consistent, persistent, regular and perhaps even aggressive buying of bitcoin stragegy.

To get a context of my Bitcoin Journey, I didn't learn much before 2019. I was a mere shitcoiner who wanted to "trade", which was actually gambling", shitcoins and I was one of those users who was looking for the "next Bitcoin", because during that time I thought it was already "too late" to invest in Bitcoin.

But obviously I was wrong, and I was very VERY lucky to have learned from my mistakes at the right time. It wasn't the "perfect" time, but it was good enough for me to take maximum risk - A Golden Opportunity. BUT it might not be the last one. Such a DIP, relative to the current cycle, might be coming again.

 

[Free Market Capitalist]

Wow wasn't expecting such amount and had to go check how much MSTR share was priced
And what I saw wasn't surprising.
They have fallen by 8% and not just because of the dilution
But investors losing faith seeing them buying large Bitcoin via Share sales.
There's always a consequence of such actions. MSTR is currently around $162
Like can you imagine. The drop from way up is something.

It's the same as last week. Most of the money comes from MSTR's ATM, at 1.15 mNAV. The rest comes from ATMing the other preferreds, except STRC. What surprises me most is the amount sold with the STRD ATM, which is below par. Although I can see a certain logic in that it has more upside potential.

[Popkon6]

Wow wasn't expecting such amount and had to go check how much MSTR share was priced
And what I saw wasn't surprising.
They have fallen by 8% and not just because of the dilution
But investors losing faith seeing them buying large Bitcoin via Share sales.
There's always a consequence of such actions. MSTR is currently around $162
Like can you imagine. The drop from way up is something.

It's the same as last week. Most of the money comes from MSTR's ATM, at 1.15 mNAV. The rest comes from ATMing the other preferreds, except STRC. What surprises me most is the amount sold with the STRD ATM, which is below par. Although I can see a certain logic in that it has more upside potential.

Funding for This Week's BTC Buy (Dec 8–14, 2025: $980M)

- **MSTR Common Stock ATM**: $888 million (90% – main source, 4.79M shares sold)
- **STRD Preferred ATM**: ~$82 million (8%)
- **STRF Preferred ATM**: ~$18 million (2%)
- **STRK Preferred ATM**: ~$1 million (<1%)
- **Other Preferred (STRC, STRE)**: $0

Total: ~$989 million raised via ATM sales, used for the 10,645 BTC purchase.

Source link: https://x.com/i/status/2000559744080056809

It is possible to be more clear from this information that most of the money comes from MSTR ATM and STRD ATM and the remaining two are minor incomes. This money combined with this money has made 10645 Bitcoin purchases this week. However, there was no income from STRC and STRE this week, but I can say that MSTR ATM are playing the biggest role in Bitcoin purchases.

[JayJuanGee]

[edited out]

To get a context of my Bitcoin Journey, I didn't learn much before 2019. I was a mere shitcoiner who wanted to "trade", which was actually gambling", shitcoins and I was one of those users who was looking for the "next Bitcoin", because during that time I thought it was already "too late" to invest in Bitcoin.

But obviously I was wrong, and I was very VERY lucky to have learned from my mistakes at the right time. It wasn't the "perfect" time, but it was good enough for me to take maximum risk - A Golden Opportunity. BUT it might not be the last one. Such a DIP, relative to the current cycle, might be coming again.
 

Well it is up to you to figure out the numbers, and I stand by my statement that even if your start date would have had been as late as 2019 rather than 2016, then you can still look at what you did versus if you would have had just ongoingly bought regularly from the time that you started until now. You would have probably done better to have had bought right away whenever you had money come in rather than employing waiting for the dip strategies.

So even a person who had bought $100 per week starting in April 2019 would have had invested right around $35k and would have accumulated close to 1.7 BTC.  

Of course, the amount of money, and as it comes available is not necessarily going to be a steady factor, yet there are ways to figure out your past actions to compare what you did to what you could have had done... and surely with something like DCA and consistent buying, it might take a couple of cycles or more before really being able to see the difference.

I understand that you are in argument mode with me right now, so you might not even be ready, willing and able to really look at the actual facts rather than your spinning it.

For sure bitcoin accumulation takes time, and the better kinds of bitcoin accumulation are likely going to be cautious in regards to making sure that relatively strong cashflow management systems are in place and being built and practiced, too.

I understand that sometimes there can be times in which guys might get lucky in their calls for up or down, yet it is likely to be a lot better to not be trying to incorporate luck into our investment systems and practices.  Accordingly, there can be difficulties to try to make any kind of system that involves luck to be replicable, which is another reason that erring on the side of ongoing buying tends to be better, especially for guys who are either in their earlier stages of bitcoin accumulation and perhaps even for guys who might have been accumulating bitcoin for a while, yet they know that they still need to accumulate quite a bit more BTC since they are still quite a distance from the target level of BTC that they believe that they need in order to be able to transition away from ongoing accumulation.

I do agree that there could be times in which someone had been accumulating BTC for quite a while, so then he can transition away from less aggressive bitcoin accumulation and therefore incorporate buying on the dip, yet I would consider that to be a strategy for someone who had already mostly built a major part of his bitcoin base, rather than a strategy for someone who already sees a need to build his bitcoin base more. and those guys who are still earlier on in their accumulation process should be ongoingly buying rather than fucking around trying to figure out if there might be a BTC price dip or not.

Accordingly, many folks who are more poor may well could have had spent 30-40 years saving and investing in traditional assets and they might not even be able to make it to a comfortable place, and it could well be the case that bitcoin offers an opportunity to cut the accumulation time in half and bring greater likelihood of being able to reach something like fuck you status to folks who might not every been able to reach such status... which still means that it could still take the poor people 15-20 years to build their bitcoin holdings through ongoing buying, not through fucking around trying to figure out if there might be a dip coming in the future or not.

By the way, we should probably take this to another thread, since we are deviating from talking about Saylor and MSTR.

[fillippone]

It is possible to be more clear from this information that most of the money comes from MSTR ATM and STRD ATM and the remaining two are minor incomes. This money combined with this money has made 10645 Bitcoin purchases this week. However, there was no income from STRC and STRE this week, but I can say that MSTR ATM are playing the biggest role in Bitcoin purchases.

They must be careful with MSTR ATM feature, they need to keep BTC yield positive, in order to play the “runnning a bitcoin business” thesis credible.
In case the issue too many shares, without buying, the BTC yield will turn even more negative.

[Ambatman]

They must be careful with MSTR ATM feature, they need to keep BTC yield positive, in order to play the “runnning a bitcoin business” thesis credible.
In case the issue too many shares, without buying, the BTC yield will turn even more negative.

This is already affecting their stocks performance
Imagine who would want to buy a share where more would be issued and in turn reduce yours value.
I think many would be finding buying Bitcoin instead more attractive
And if this plays out and leads to price increase
MSTR value would rise and the cycle could continue.
They should slow down in their purchase if it's going to be equity financed.

[fillippone]

They must be careful with MSTR ATM feature, they need to keep BTC yield positive, in order to play the “runnning a bitcoin business” thesis credible.
In case the issue too many shares, without buying, the BTC yield will turn even more negative.

This is already affecting their stocks performance
Imagine who would want to buy a share where more would be issued and in turn reduce yours value.
I think many would be finding buying Bitcoin instead more attractive
And if this plays out and leads to price increase
MSTR value would rise and the cycle could continue.
They should slow down in their purchase if it's going to be equity financed.

As long as the BTC yield is positive, issuing shares is not an issue for the stockholders. This means that the number of Satoshis per share is growing making every share more valuable in BTC terms.
The real hurdle rate, in other words, is Bitcoin.

[Free Market Capitalist]

Fuck! I had trouble finding the thread, in this case on page 4 of this section. I don't remember if it's been updated in a while, but it's clear that Strategy's performance hasn't been very encouraging lately.

I wanted to mention that the other day I saw an analysis according to which mNAV, which currently stands at 1.1, is actually a way of measuring mNAV on the upside. It's not that it's illegitimate, but it shows that there is more than one way to measure it that can be used.

In this case, if we go to the Strategy.com page, we see the following:



Please correct me if I'm wrong, but I believe Strategy is calculating mNAV as total Bitcoin holdings (expressed in dollars) divided by enterprise value. Whereas if we divide it by MSTR's market capitalization, mNAV comes out to 0.85.

I doubt that many people will even understand what I just said, but if I see someone making a reasonable argument, we can discuss why it might be more legitimate to use one mNAV or another.

[JayJuanGee]

Fuck! I had trouble finding the thread, in this case on page 4 of this section. I don't remember if it's been updated in a while, but it's clear that Strategy's performance hasn't been very encouraging lately.

I wanted to mention that the other day I saw an analysis according to which mNAV, which currently stands at 1.1, is actually a way of measuring mNAV on the upside. It's not that it's illegitimate, but it shows that there is more than one way to measure it that can be used.

In this case, if we go to the Strategy.com page, we see the following:

Please correct me if I'm wrong, but I believe Strategy is calculating mNAV as total Bitcoin holdings (expressed in dollars) divided by enterprise value. Whereas if we divide it by MSTR's market capitalization, mNAV comes out to 0.85.

I doubt that many people will even understand what I just said, but if I see someone making a reasonable argument, we can discuss why it might be more legitimate to use one mNAV or another.

For someone like me, who does not really follow these matters very closely, it may well help to be able to see the different ways of calculating side by side, and then if I see some of the numbers side by side, then I might start to better understand the different ways of calculating... I guess it would have to show how various variables stay the same, yet different MNav calculations are achieved through the reliance on different input factors.

[I_Anime]

To get a context of my Bitcoin Journey, I didn't learn much before 2019. I was a mere shitcoiner who wanted to "trade", which was actually gambling", shitcoins and I was one of those users who was looking for the "next Bitcoin", because during that time I thought it was already "too late" to invest in Bitcoin.

But obviously I was wrong, and I was very VERY lucky to have learned from my mistakes at the right time. It wasn't the "perfect" time, but it was good enough for me to take maximum risk - A Golden Opportunity. BUT it might not be the last one. Such a DIP, relative to the current cycle, might be coming again.

Many new investors (when I say new I meant four years back also )  can  relate to this . Even myself, started I knew about crypto like years back but still vivid , but I came into it 2021 because I had to gather some capital first   Through my Job then , started as a spot trader I buy and when low and sell when is high , due to the fact I don’t have any knowledge about bitcoin , I also thought was too expensive for me and am bit too late to invest in it , so I began to play with shitcoins and I paid for with my assets , yes I lose it all .

Then I decided to seek knowledge first than to keep gambling with my money , in the process seeking knowledge I can I contact with this forum , and it help me to get some of those knowledge I seek fast , and I got back the confidence to put my money into digital assets, but at that time was not shitcoins, it was bitcoin and things got more excited we were in bullrun and bitcoin literally proved itself , to be safe and reliable too . And now I will keep building just to try and make up to the time I miss due to lack of proper knowledge.

[Free Market Capitalist]

I think the bigger issue here is not which mNAV formula is correct, but what investors are trying to measure. If you want to value Strategy as a Bitcoin proxy, market cap comparison feels more honest. If you want to judge how aggressive the balance sheet is, enterprise value matters more. Mixing the two can confuse people. Recent performance shows leverage cuts both ways, so mNAV alone should not be used to justify bullish or bearish views without looking at risk, debt timing, and Bitcoin price sensitivity.

I think this explanation is quite accurate.

What strikes me about this is that Strategy Management has repeatedly said that all bitcoin treasury operations have the primary objective of taking care of the shareholder value of common stock.

We also have bitcoin per share and its increase through treasury operations as their ultimate goal.

But if we add to that the fact that six months ago, after common stock was no longer performing very well and they received criticism for it, they released a table stating that they would no longer dilute common stock below 2.5 mNAV except in certain cases (such as dividend payments), and shortly thereafter they ignored it, until in recent weeks they have been ATMing the common stock at 1.1 or 0.85 of mNAV depending on how you measure it, it is shocking to say the least.

I think it's a leap of faith to bet everything on the price of Bitcoin rising in 2026. And let's hope that's the case.

[Popkon6]

STRC Covered Calls = 16% yield.

It's wild that you can sell covered calls on STRC for 1/16/2026 at $50/contract at the $100 strike. This is a bonus 0.5% (per month) on top of the 10%+ you already receive in annual yield just for owning the ticker.



Source link: https://x.com/i/status/2002121308839309448

STRC is going to perform very well in the new year, but I think there is a huge opportunity for MSTR to make more of an impact on Bitcoin. If Bitcoin dips in 2026, Michael Saylor will be able to buy Bitcoin because he will make a lot of money from this great offer. STRC will sell this stock, which will make him more money, and with that money he can buy Bitcoin and add it to his core holdings. Now just wait for the new year, because we will see Saylortracker.com become more of a Bitcoin buying argument.

[Ambatman]

I think the bigger issue here is not which mNAV formula is correct, but what investors are trying to measure. If you want to value Strategy as a Bitcoin proxy, market cap comparison feels more honest. If you want to judge how aggressive the balance sheet is, enterprise value matters more. Mixing the two can confuse people. Recent performance shows leverage cuts both ways, so mNAV alone should not be used to justify bullish or bearish views without looking at risk, debt timing, and Bitcoin price sensitivity.

I think this explanation is quite accurate.

ehn I think I still prefer the EV calculation that you talked about when talking about Strategy as a Bitcoin proxy.
Marketcap calculation is majorly pure equity which we all know strategy Also depends on debt and leverage.
So EV accounting for debt feel more appropriate to me.
I would support market cap comparisons when assessing risk adjusted equity return.

I think it's a leap of faith to bet everything on the price of Bitcoin rising in 2026. And let's hope that's the case.

I believe integrity builds trust and they going against their words despite justification
Kills the belief on how long they would hold and normally the promise they holding is one of their strengths.
If the gamble pays out next year many would forget about the drama of Q4 2025.