"Saylor is buying the dip" is the easy read of Strategy's latest filing. The filing itself says something different.
Nov 2-8 (8-K): $283.8M raised from MSTR share sales. Only $81.9M went into 1,036 BTC, at an average of $79,012. $188.3M went to buying back STRC preferred shares.
Since October, buybacks of about $1.06B are nearly 5x the $219.7M spent on bitcoin (Cointelegraph).
Strategy's overall cost basis is $75,456 per BTC across 850,364 BTC, and $BTC sits near $75,266 (-2.23% over 7 days, chart above). Last week's buy was above spot.
My read: right now the machine looks more like balance-sheet defence than a dip-buying campaign. That could still be sensible, but it is a different signal than "relentless accumulation".
Do you treat these weekly 8-Ks as demand for bitcoin, or as a funding story? #Bitcoin #Strategy
Not financial advice. Disclosure: I may earn Write to Earn commissions if you trade via cashtags here.
Nov 2-8 (8-K): $283.8M raised from MSTR share sales. Only $81.9M went into 1,036 BTC, at an average of $79,012. $188.3M went to buying back STRC preferred shares.
Since October, buybacks of about $1.06B are nearly 5x the $219.7M spent on bitcoin (Cointelegraph).
Strategy's overall cost basis is $75,456 per BTC across 850,364 BTC, and $BTC sits near $75,266 (-2.23% over 7 days, chart above). Last week's buy was above spot.
My read: right now the machine looks more like balance-sheet defence than a dip-buying campaign. That could still be sensible, but it is a different signal than "relentless accumulation".
Do you treat these weekly 8-Ks as demand for bitcoin, or as a funding story? #Bitcoin #Strategy
Not financial advice. Disclosure: I may earn Write to Earn commissions if you trade via cashtags here.
