Strategy just bought another 4,871 BTC

[Misa Amane]

Strategy just added another 4,871 BTC and now sits on 766,970 BTC total ( See Here ). What stood out to me isn’t even the buy itself anymore, it’s how normal this has become for them even while sitting on a massive unrealized Q1 loss.

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?





If this post is not appropriate for this section, please move it to the correct one.

[Z-tight]

Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?

Strategy i'm sure are buying for the very long time, i don't think they are looking at their huge unrealized losses this year, nor their current average purchase price. It is about the long term and the heights BTC could get to in the future, not a bad bet at all. However, i don't really like to look at what others do with BTC, even when it's big corporations like Strategy, my point is that i do not make decisions based on the actions of others. But it is good to see how strongly this company believes in BTC.

[aoluain]

Strategy just added another 4,871 BTC and now sits on 766,970 BTC total ( See Here ). What stood out to me isn’t even the buy itself anymore, it’s how normal this has become for them even while sitting on a massive unrealized Q1 loss.

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?





If this post is not appropriate for this section, please move it to the correct one.

But you see Strategy dont focus on the here and now they are in the game for the long
run. You have to hand it to them they buy when the can or on their schedule regardless
of the market price. We can track each purchase on their website >
https://www.strategy.com/purchases

I wonder do they have anyone doing market analysis? if they have do they think the market
has reached the bottom for the foreseeable future and if they dont have anyone analysing
they are just buying anyway because the market is going up anyway at some stage.

They are probably the single biggest buyer ATM

[Donneski]

With the way Michael Saylor is moving, he'll go down in his as a man who saw it early and went all in when the rest of the whales were sceptical and careful or the one who trusted too much and overexposed his company in the future. Considering how aggressive he's acquiring BTC, I doubt there'll ever be a middle ground for him in the future. He'll either win big or fatally lose big.

The risk actually real if BTC remains under their average for too long. His moves are very bold that they'll definitely come with consequences which will either be positive or negative.

[Ronsbit]

Strategy has long displayed its strategic BTC accumulation reserve, and they have been running it for quite some time now. Looking at it, it is a long-term goal they are in for. Well, I believe there is a reason for this action of theirs, in a continuous accumulating bitcoin strategy, for that matter, which they are not saying. But for a little time, I will not be surprised to see them buy more and top the chart before anything funny happens.

[EluguHcman]

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?

Strategy determinations and their accumulation of Bitcoin strategies is such unique dynamically with the consistent buying without timing against sentiments unlike some others who are only overwhelmed in buying the DIP or even the top when others are setting to sell after making profits within their holding timeframe.

I bet the Strategy is one of the most public company consistently buying Bitcoin.
The organization is truly treating Bitcoin as digital gold anticipating Bitcoin as a long term potential asset. They probably foresee the future of Bitcoin than others can imagine that is why they don't mind price value before they buys.

I don't expect to see bullishness at the cause of this news because the previous ones never showed the influence instead, The volatility had ever remained unpredictable and trajectory.

[Zaguru12]

Strategy i'm sure are buying for the very long time, i don't think they are looking at their huge unrealized losses this year, nor their current average purchase price. It is about the long term and the heights BTC could get to in the future, not a bad bet at all. However, i don't really like to look at what others do with BTC, even when it's big corporations like Strategy, my point is that i do not make decisions based on the actions of others. But it is good to see how strongly this company believes in BTC.

They simply displaying their strong believe for bitcoin and that’s why they are actually investing aggressively this period because they understand that this bearish trend will most definitely be good accumulation zone, their average buy is just around $75k and this means that the more they buy at prices lower than this average buy price the lower it falls. With this Average buys at $75k if bitcoin in the next bullish trend goes as high as $150k then the institutions would have made an 100% Profit in their investment this is definitely going to be huge considering the amount invested, only highly risky investments can actually boost of this returns.

I don’t actually think that MSTR are actually just chasing the top holders Chart which is currently held by Satoshi but rather they are actually aggressively buying with more institutions coming in with huge funds into the market. They wish to actually lay their hands on lots of bitcoin.

This news of buys do not longer have impact of the market because aside the large market cap which doesn’t makes this buys noticeable, it also doesn’t creates panic or FOMO like before

[Rashlyowl]

Very risky to buy right now imo... just couple months ago it went from 100k to 50k it can happen any time again be careful

Our discussion may be out of context, but I will give my views regarding your statement. Buying BTC now can be risky if you are a trader, traders always want to take advantage of every BTC market price condition. Unlike an investor who has long-term expectations, because in the end 1 BTC is 1 BTC, it will never be 1 BTC : $1,000,000 or even 1 BTC : $1,000,000,000. Back to the 'Strategy' context, they are not afraid of what they are doing now, because they are confident BTC will give them an edge in the future.

[SeriouslyGiveaway]

Strategy just added another 4,871 BTC and now sits on 766,970 BTC total (https://btcusa.com/strategy-buys-another-4871-btc-but-the-real-signal-is-whats-happening-under-the-surface See Here ).

You can use another website for tracking Strategy's Bitcoin purchases or sales.
https://saylortracker.com/?tab=charts

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?

It's not just known now or in 2026, as the Bitcoin's Controlled supply is very famous and well known. People knew about it but they did not take action and only wait till each Bitcoin halving when social media talks more about Bitcoin, then a bull market to feel greedy and join around all time high. Those people are too hesitating and they don't do enough research about Bitcoin for getting good knowledge about Bitcoin fundamentals and belief in its future.

Supply shock takes time to be recognized by most people in the market and effects will be long term, not short term.

[crwth]

I'm just curious how much they have in loans, or is it their money entirely? Having that much means that they have a great cash flow and could really be okay with those unrealized losses. Just imagine how much they would gain if it goes so high. If it is a loan, how long is it, or what are the maturity dates? It's just so hard to see

The most intriguing question for me is Could MicroStrategy be forced to sell those BTC one day?

[BlackBoss_]

I'm just curious how much they have in loans, or is it their money entirely? Having that much means that they have a great cash flow and could really be okay with those unrealized losses. Just imagine how much they would gain if it goes so high. If it is a loan, how long is it, or what are the maturity dates? It's just so hard to see

The most intriguing question for me is Could MicroStrategy be forced to sell those BTC one day?

They said they don't have that risk and they are confident with that, but who knows.

I don't really like the over risk taking approach from Strategy as in risk management, I see them as a very terrible model that should never be copied by anyone or any institutional investor. I am realistic that if anything terrible happens with Strategy, the market will be affected and surely I don't want it to happen. But if it happens, it's just it is what it is, and optimistically thinking I believe Bitcoin market will recover well from that shock and crash.

[_act_]

The most intriguing question for me is Could MicroStrategy be forced to sell those BTC one day?

I do not think so, what that can happen now is for Saylor to buy more bitcoin than to sell it, but there will be a time that Strategy will need to sell part of his bitcoin but it can not get to the point that they will need to sell all when they know that it can not help the market. Anything is possible but know that Strategy has a long term plan for bitcoin holding. And the company is lucky because in the next 10 years many people will see the company to be very lucky when bitcoin increased 10 times.

[Free Market Capitalist]

I'm just curious how much they have in loans, or is it their money entirely?

No, they buy Bitcoin with OPM (other people's money). Currently, this is done through the sale of two of its products: MSTR, which is common stock, and STRC, which is the company’s preferred stock.

The debt in question is convertible debt, which the company has not issued for some time.

MSTR is OK IMO. This is what they’ve used to fund their Bitcoin purchases for the longest time because it typically trades at a premium to their Bitcoin holdings; however, as Strategy buys more and more, it undermines itself because it makes less sense to pay a premium while hoping to buy much more in order to maintain the same exposure to Bitcoin.

This might be a little hard to understand for those of you who aren’t familiar with the concepts, but basically, anyone who has bought Bitcoin now that MSTR is trading at 1.15 MNAV will have to wait until Strategy buys another 115,000 Bitcoins to have the same exposure to Bitcoin as if they had spent that money to buy Bitcoin directly. That amount is somewhat reasonable, but in the past, the company’s success was based on an MNAV of 2 or higher, which has now become impossible because, in order to achieve such a multiplier, people would have to be willing to wait for Strategy to buy another 766,000 Bitcoins to match the exposure.

And here we come to what I see as the most problematic issue: the shift in the business model toward preferred shares, and more specifically STRC, which currently pays a dividend of 11.5% based on an assumption that doesn't hold up to even basic mathematical analysis. I won't go into detail about this because I've already explained it several times in different threads, and besides, people tend to give vague answers without understanding the basics.

[arzuo]

This is really an important signal where they are collecting Bitcoin in this situation!

However, it seems to me that the issue is somewhat centralized, because having so many Bitcoins in the hands of a single institution is not really a good signal, they can make big changes in the market at any time if they want, although they cannot do it for a long time, even after that I think that a huge amount of Bitcoin being held by someone, especially a single owner, is a bad signal for the market, especially for traders!!

[Dave1]

Very risky to buy right now imo... just couple months ago it went from 100k to 50k it can happen any time again be careful

Yes, but they are looking at the long term and that has been their view of Bitcoin or by Saylor. They believed that as long as Bitcoin will be above $7k-$10k, as this could be their capitulation price.

And during this time, the bear market, it's best for us even average joe to start our accumulation phase, buying cheap Bitcoin and then HODL for at least the next bull run. Others have called Saylor's strategy bold, but that's how sees Bitcoin as the best asset and they could make a lot of profits down the line as we have hit 1 million being mined already and so it's going to be scarce. And with that, there will be demand pushing the price higher in the next bull run.

[btc78]

there’s really nothing surprising anymore with strategy buying more bitcoin. it’ll be more surprising if they sold all their bitcoins after accumulating them all these years. strategy is obviously implementing a long term plan. after a couple of years, they’ll be the ones swimming in profit.

[akamit]

I'm just curious how much they have in loans, or is it their money entirely?

No, they buy Bitcoin with OPM (other people's money). Currently, this is done through the sale of two of its products: MSTR, which is common stock, and STRC, which is the company’s preferred stock.

The debt in question is convertible debt, which the company has not issued for some time.

MSTR is OK IMO. This is what they’ve used to fund their Bitcoin purchases for the longest time because it typically trades at a premium to their Bitcoin holdings; however, as Strategy buys more and more, it undermines itself because it makes less sense to pay a premium while hoping to buy much more in order to maintain the same exposure to Bitcoin.

This might be a little hard to understand for those of you who aren’t familiar with the concepts, but basically, anyone who has bought Bitcoin now that MSTR is trading at 1.15 MNAV will have to wait until Strategy buys another 115,000 Bitcoins to have the same exposure to Bitcoin as if they had spent that money to buy Bitcoin directly. That amount is somewhat reasonable, but in the past, the company’s success was based on an MNAV of 2 or higher, which has now become impossible because, in order to achieve such a multiplier, people would have to be willing to wait for Strategy to buy another 766,000 Bitcoins to match the exposure.

And here we come to what I see as the most problematic issue: the shift in the business model toward preferred shares, and more specifically STRC, which currently pays a dividend of 11.5% based on an assumption that doesn't hold up to even basic mathematical analysis. I won't go into detail about this because I've already explained it several times in different threads, and besides, people tend to give vague answers without understanding the basics.

The MNAV compression point is one of the more important ones in this thread, and I think a lot of MSTR holders don't fully understand what happens when that premium shrinks.

When MSTR was trading at 2x+ MNAV, the narrative made sense, you were paying up for Saylor's execution, leverage, and the "Bitcoin proxy" structure. But at 1.15x, that advantage is largely eroded. At that point, you're essentially paying extra for indirect BTC exposure while the gap continues to compress. Late entrants simply don't get the same leverage effect early buyers had.

The STRC side is where things get more questionable. An 11.5% yield backed by an asset that doesn't generate cash flow introduces a real structural dependency, either on continued BTC appreciation or ongoing capital inflows. And it has worked in a strong uptrend, but if BTC goes sideways for a prolonged period, the pressure shifts to the capital structure itself rather than the asset.

I'm not saying it's broken, but people are mixing two different ideas, being bullish on BTC vs assuming MSTR/STRC are automatically good vehicles at current levels. Those aren't the same trade anymore.

[MinoRaiola]

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?

A longterm buyer, that ss how it looks from the outside. Who knows what they are planning or doing intern. But they want to own 1.000.000 bitcoins, and Im curious to see what happens next. Will they reach there goal and stop/sell, or will they hold on until 2029? They have been in the media for a very long time now, and they stay in the spotlight for so long and always in a positive light. I hope it stays that way for a very long time, for that i think the price would have to rise again.

[LogitechMouse]

I'm just curious how much they have in loans, or is it their money entirely? Having that much means that they have a great cash flow and could really be okay with those unrealized losses. Just imagine how much they would gain if it goes so high. If it is a loan, how long is it, or what are the maturity dates? It's just so hard to see

The most intriguing question for me is Could MicroStrategy be forced to sell those BTC one day?

They're giving their own stock to those that will be giving out money for them, and that money will be the one that they'll be using to buy Bitcoin. It's kind of like, "You give me money, I'll give you a share of my company." kind of agreement. It's not their money.

As for Strategy forced to sell those Bitcoin, I don't think that the term "forced" can be applied here. The correct term for me is they'll be selling their Bitcoins at one point because they "NEED" to realize their gains. They're investors, and Saylor is a businessman and I believe that these people prioritize profits over everything. This is what makes it a bit scary because of the possible effects of it to the market. I mean if they say "We will be selling our Bitcoins", that might cause a panic towards the whole market and that could push the price of Bitcoin to even lower prices.

Anyway, I guess we just need to be ready for that. They're continuing to buy it, and there's nothing that we can do, but to be ready whenever they decide to sell their holdings. It might take a while though before they do it.

[henry_of_skalitz]

At this point Strategy feels less like a company holding bitcoin and more like a permanent bid under the market. Curious how people here see it now: bullish long-term supply sink, or growing balance sheet risk if BTC stays below their average cost too long?

A longterm buyer, that ss how it looks from the outside. Who knows what they are planning or doing intern. But they want to own 1.000.000 bitcoins, and Im curious to see what happens next. Will they reach there goal and stop/sell, or will they hold on until 2029? They have been in the media for a very long time now, and they stay in the spotlight for so long and always in a positive light. I hope it stays that way for a very long time, for that i think the price would have to rise again.

If they would want to profit off of their bags - why not to sell

It may cause an uproar for a bit of time, but after that - who would care if they would buy it back eventually alongside other treasure-companies like itself?