Microstrategy bought more bitcoin

[FP91G]

MicroStrategy, the business intelligence firm led by Michael Saylor, made headlines once again with its recent announcement of a substantial Bitcoin purchase. Between April 29, 2023, and June 27, 2023, MicroStrategy and its subsidiaries acquired approximately 12,333 Bitcoin for a whopping $347 million in cash. The average price per BTC stood at approximately $28,136, inclusive of fees and expenses.
https://cryptonews.net/news/bitcoin/21240458/

MicroStrategy Acquires 12,333 Bitcoin, Now Holding 152,333 BTC Worth $4.52 Billion
https://thecryptobasic.com/2023/06/28/microstrategy-acquires-12333-bitcoin-now-holding-152333-btc-worth-4-52-billion/

[panganib999]

MicroStrategy, the business intelligence firm led by Michael Saylor, made headlines once again with its recent announcement of a substantial Bitcoin purchase. Between April 29, 2023, and June 27, 2023, MicroStrategy and its subsidiaries acquired approximately 12,333 Bitcoin for a whopping $347 million in cash. The average price per BTC stood at approximately $28,136, inclusive of fees and expenses.
https://cryptonews.net/news/bitcoin/21240458/

MicroStrategy Acquires 12,333 Bitcoin, Now Holding 152,333 BTC Worth $4.52 Billion
https://thecryptobasic.com/2023/06/28/microstrategy-acquires-12333-bitcoin-now-holding-152333-btc-worth-4-52-billion/

Looks like they’re cooking something over there that we all could take part of when the bull run arrives. In any case, while I think this is still as great as any news for bitcoin and its price, we also have to consider that this has been a very common news in the space that people like me are already getting tired from it. Hopefully something monumental on their end happens soon, otherwise seeing news of Microstrategy buying humungous amounts of bitcoin’s not gonna do well with the impressions, given the fact that this topic’s running as early as 2017 if I’m not mistaken.

[thecodebear]

I wonder if MicroStrategy will ever get to 1% of supply. Doesn't seem likely as within a year it's gonna be costing them a lot more to buy Bitcoin. I could see them getting up to like maybe 190,000 BTC though after a few more years.


Also I know they took out debt (I think they did like Senior Notes or some such thing) to buy a good amount of their Bitcoin. I'm not sure if when those notes become due if they will just pay off the investors in shares of their stock of if they'll have to pay them back with Bitcoin, or a combination of the two. I don't think that happens until 2026 or 2027 though if I remember correctly.


Anyways, hopefully within a few years other large companies will start becoming as smart as Saylor and realize they too need to accumulate Bitcoin. Imagine the sort of price appreciation we're gonna get once Apple, Amazon, Facebook, Google, and various other major companies are each buying up hundreds of millions of dollars worth of Bitcoin like per quarter to add to their cash reserves. I thought that was gonna get going back in 2021 but the corporate buying (other than MicroStrategy) only lasted a few months for the most part and no public companies have been smart enough to start accumulating Bitcoin during the recent bear market. At some point though all these big CEOs are gonna wake up to the opportunity to improve the finances of their companies that Bitcoin provides.

[dhruvfire]

I think this is a good news as we have this crypto enthusiast organization that continue to buy more bitcoin. Microstrategy bought more bitcoin. Its total holding is now 140000 BTC.

https://twitter.com/saylor/status/1643586872839471105?t=L7IzW6T8ltWlRp-9pB3Oow&s=19

MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR

There is something seen about bitcoin, the future is bright.

They are taking lot of risk and if bitcoin technology demand increased in future, they will be rewarded for the risks taken. I am also investing in bitcoin every month from savings.

[hZti]

Bitcoin prices do look promising in the last few weeks so if they start to accumulate now then they will definitely even accumulate much more once there is a clear bullish direction visible. To have such a big investor in bitcoin is a huge blessing since it gives credibility to the whole community.

[aoluain]

I would be really shocked if at some point Microstrategy doesn't turn out to be a villain. For some reasons people feel the need to worship centralized entities  

But how John?

Sell off their holdings? . . . which they own and is their prerogative to do so. Anyway
the market would hoover them up and the shock would only be temporary.

The way Saylor talks and has educated a lot of people to the fact that there is no other
vehicle to compete with Bitcoin to store wealth for the long term.

It is a fact though that those coins will hit the market at some stage, possibly not all
at the same time and possibly 30, 40, 50 years from now, thats my belief.

[mvdheuvel1983]

I would be really shocked if at some point Microstrategy doesn't turn out to be a villain. For some reasons people feel the need to worship centralized entities 

It is obvious that they are very bullish. Micheal Saylor has been championing the bitcoin cause and has almost the same level of popularity as Satoshi Nakamoto. However, not everyone thinks highly of them. While folks in some quarters are praising him, some think they have some hidden agenda. I wouldn't blame the latter. I have heard, though unconfirmed that BlackRock, Vanguard, indirectly hold Bitcoin via MicroStrategy and we know what the people have said about BlackRock. Anyways, how far and how much does Microstrategy intend to go with bitcoin and how much bitcoin can they accumulate? Furthermore, how do they store they about $4.6billion worth of bitcoin? Cold storage?

[Outhue]

I will like to know how you people are able to keep track on the Micro Strategy Bitcoin wallet address or is there a place where it's all revealed that I don't know?

Also other companies that are less popular to micro strategy could be doing the same thing too but we aren't aware about them, or maybe we think they are just other whales, well things are looking more bullish, and more adoption will continue to happen.

I don't think that such companies will ever be ready to sell their bags and this amount is not that huge that could cause a massive dump if they want to dump such number into the market and if they dump with time no one will even notice.

I think such companies will have Bitcoin in holding for many years to come because it could be the best backbone asset for their companies present performance and also in the future.

[Kakmakr]

It is not that significant when a small business acquire bitcoins, but when you see large organizations like BlackRock buying bitcoins.. then you should sit up and take notice. I know Vanguard is still deciding if they will be buying in the future, but I am confident that it will happen soon.

Those are the two entities in the financial world that I am monitoring the most.... not the Google or Amazon or Microstrategy companies, because BlackRock and Vanguard are invested in those large companies. 

[DaveF]

At this point Microstrategy announcing they bought more BTC is about as relevant an announcement that I am about to go out and buy breakfast.
It's what they do. And if the price goes up enough they will sell them, and if the price then drops after that they will buy more. And keep the difference as profits.

That is more or less their business. Not saying it's good or bad, just they have shown that they are going to keep buying a lot and occasionally selling. At this point they are probably not really that important an indicator of future price sine they do keep buying and selling. It's not that rare an event.

-Dave

[CODE200]

Bitcoin prices do look promising in the last few weeks so if they start to accumulate now then they will definitely even accumulate much more once there is a clear bullish direction visible. To have such a big investor in bitcoin is a huge blessing since it gives credibility to the whole community.

I don't know why they've just started now, bitcoin went to 20k right? That could've been an opportunity for them to get more bang for their buck but hey, this is a good bullish news nonetheless. It's a positive to have a big investor in the market but blessing is just a bit too far imo because big investors means whales and whales can make waves which is a fancy term for market manipulation, wouldn't argue about credibility though, I do think that they do help with that a lot.

[royalfestus]

Is the public aware of the wallet address?

[Luzin]

MicroStrategy Acquires 12,333 Bitcoin, Now Holding 152,333 BTC Worth $4.52 Billion
https://thecryptobasic.com/2023/06/28/microstrategy-acquires-12333-bitcoin-now-holding-152333-btc-worth-4-52-billion/

This is good, big companies have faith in the growth of bitcoin. Hopefully it will have a confidence effect on investors. Although the current state of the world economy is bad, the increase in FED interest rates, strict regulators in the United States such as the SEC I hope it does have to go through Bitcoin to grow bigger. Although there is no real validation evidence by providing a wallet address, I think it has had a positive impact for investors to join. And then Don't worry, this amount also cannot be used to control the price of Bitcoin.

Is the public aware of the wallet address?

Do you mean a Microstrategy wallet address? I think it is too risky for a large company to publish its storage wallet address.

[PX-Z]

Sounds all very good news until they announce that they will sell their holdings for specific date. Since they regularly buy and sell, then that will probably affect the market but no worries though they will buy back for their business to grow.

[tranthidung]

I wonder if MicroStrategy will ever get to 1% of supply. Doesn't seem likely as within a year it's gonna be costing them a lot more to buy Bitcoin. I could see them getting up to like maybe 190,000 BTC though after a few more years

I discussed about that in Investigate, assess news. Don't simply read and make wrong decisions three years ago.

It is hard for them to own bitcoin up to 1% of Bitcoin total supply. They need 210,000 BTC to hit 1% of total supply.

Today, after a latest stack round, they have only 152,333 BTC according to BitcoinTreasuries.net.

If you think about it in a different way, accounting for estimated lost BTC, which is like 3M or 4M BTC, hence the 'actual' total supply would be 17M to 18M, Microstrategy is not far to own 1%. It is estimation, not actual number for lost BTC.

[Inwestour]

At this point Microstrategy announcing they bought more BTC is about as relevant an announcement that I am about to go out and buy breakfast.
It's what they do. And if the price goes up enough they will sell them, and if the price then drops after that they will buy more. And keep the difference as profits.

That is more or less their business. Not saying it's good or bad, just they have shown that they are going to keep buying a lot and occasionally selling. At this point they are probably not really that important an indicator of future price sine they do keep buying and selling. It's not that rare an event.

-Dave

Actually they sold only once if I'm not mistaken, and they did it at the wrong time, but it was a necessary measure. And the rest of the time they are buying and you are right, they are buying absolutely at all levels and in any markets.

I watched an interview with Sailor, the bottom line is that he believes in bitcoin at 500k and above, so they are not afraid to dig at any price. By the way, despite their purchases at different times, their average purchase price is around 30k, which is a very good indicator in the run-up to the bull market.

[rby]

Bitcoin prices do look promising in the last few weeks so if they start to accumulate now then they will definitely even accumulate much more once there is a clear bullish direction visible. To have such a big investor in bitcoin is a huge blessing since it gives credibility to the whole community.

Micro strategy does not only give credibility to the whole community but they also restore confidence and faith in bitcoin whenever there is FUD in the market. Micro strategy has been consistent in buying bitcoin and whenever they do, there is always a wave and news about it. I can remember when Micro strategy bought during the bull run, in the same period that El Salvador did. I was actually confused why they did so, but I discovered at last that on the long run they are still in profits.

Now Micro strategy has bought more bitcoin, and the market is positive, let us wait for the outcome of SEC and Binance, Coinbase suits.

[salad daging]

Sounds all very good news until they announce that they will sell their holdings for specific date. Since they regularly buy and sell, then that will probably affect the market but no worries though they will buy back for their business to grow.

Until now there is no specific date when they sell, I don't think they will sell in the near future. The other news is that Microstrategy purchases are continuous, meaning they will continue to accumulate until an unspecified time.

I don't know if Microstrategy has ever sold its holdings of Bitcoin, I may have missed this news but what is definitely news is getting more positive is big institutions like Microstrategy just keep on buying.

[PX-Z]

I don't know if Microstrategy has ever sold its holdings of Bitcoin, I may have missed this news but what is definitely news is getting more positive is big institutions like Microstrategy just keep on buying.

They did. It's all over in google news last year and it will not be the last since this is a huge business and it needs profit. Regardless of the sells they did, they still buy large sums of bitcoin, so just like I've said it still okay and it's more in bullish.

[sheenshane]

Based on this article on Coindesk, now they are holding over $4.6B and the last purchased was on June 27.

I don't know if Microstrategy has ever sold its holdings of Bitcoin, I may have missed this news but what is definitely news is getting more positive is big institutions like Microstrategy just keep on buying.

They did. It's all over in google news last year and it will not be the last since this is a huge business and it needs profit. Regardless of the sells they did, they still buy large sums of bitcoin, so just like I've said it still okay and it's more in bullish.

This is the most I'm afraid of that will surely have an impact on the market, what if they'll sell their Bitcoin holding, any decision to sell them could potentially impact the crypto market.  If MicroStrategy were to sell a large portion of its holdings, it might create downward pressure on the Bitcoin price, leading to a temporary decrease in its value.  However, the extent of the impact would depend on various factors, including the timing, the volume of Bitcoin sold, and market conditions at the time of the sale.

Do you think when there's an ATH they will dump all their holdings?