Saylor buy speculation is back in Square's trends. I'm watching where the funding actually goes.
One historical example explains why: Strategy's August 31 filing reported $602.8 million of net proceeds from common-share sales for August 24-30. It said $369.7 million of those proceeds funded Bitcoin purchases - about 61.3%.
The filing also lists preferred-share repurchases, dividends and an increase in its cash liquidity account among the uses. Raising money and spending all of it on BTC are different claims.
That same report recorded 4,603 BTC purchased during August 24-30. Those are dated figures, not confirmation of a new September 20 purchase.
For the next update, my checklist is the purchase period, coins acquired and funding used. A hint alone cannot fill in those fields, and an announcement date need not be the day the buying happened.
Which detail would change your reading most: the BTC amount, the funding source or the purchase period - and why?
$BTC #Bitcoin
One historical example explains why: Strategy's August 31 filing reported $602.8 million of net proceeds from common-share sales for August 24-30. It said $369.7 million of those proceeds funded Bitcoin purchases - about 61.3%.
The filing also lists preferred-share repurchases, dividends and an increase in its cash liquidity account among the uses. Raising money and spending all of it on BTC are different claims.
That same report recorded 4,603 BTC purchased during August 24-30. Those are dated figures, not confirmation of a new September 20 purchase.
For the next update, my checklist is the purchase period, coins acquired and funding used. A hint alone cannot fill in those fields, and an announcement date need not be the day the buying happened.
Which detail would change your reading most: the BTC amount, the funding source or the purchase period - and why?
$BTC #Bitcoin
