【Buying Bitcoin in the same week: one spends $280 million, the other buys just 250 coins 😳🤔】
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Two Bitcoin-buying announcements landed in the same week, but they couldn’t have looked more different. One company spent $280 million to buy 3,311 $BTC . The other bought just 250 coins for $21.5 million. Stranger still, the CEO of the company that bought less applauded. He cheered on the rival that bought more. 😅
The bigger buyer was Strive, a publicly traded company with the ticker ASST. It disclosed the purchase on the 13th. This was its biggest buying spree so far this year. Its holdings rose from 29,462 coins to 32,773, an increase of about 11%. At the October 9 price of $82,300, those coins were worth $2.7 billion. 💰
Where did the money come from? Mainly from warrant exercises. Investors exercised about $208 million worth of warrants, turning them into cash. Another $15.3 million worth of warrants expired worthless at 5 p.m. on October 13. In my view, this kind of funding is basically a one-off. Once it’s spent, they’ll need to find a new way to raise money. 🤨
Meanwhile, Strategy bought just 250 coins this week, spending $21.5 million. Where did the rest of its money go? It spent $192.4 million buying back its own preferred stock. Its Bitcoin purchase was less than one-ninth of its buyback spending. It still holds 848,250 coins. 📉
Saylor is Strategy’s executive chairman. He publicly applauded Strive’s big purchase. Put simply, he pulled back himself but cheered on his rival. Both companies are competing for the same pool of investors who treat Bitcoin like a treasury reserve. They’re still tied to the same boat. 🤝
Right now, $BTC is hovering around $83,290. That’s about 34% below the all-time high of $126,080. Smaller companies are still charging in, while the industry leader is buying back its own stock. I think the contrast is worth a closer look. 🧐
📌 One side is spending $280 million to buy Bitcoin; the other is spending $190 million buying back its own stock.
If you were in this position, would you buy along—or wait a little longer?
Join Mr. X’s fan chat from the profile page 🔥
Two Bitcoin-buying announcements landed in the same week, but they couldn’t have looked more different. One company spent $280 million to buy 3,311 $BTC . The other bought just 250 coins for $21.5 million. Stranger still, the CEO of the company that bought less applauded. He cheered on the rival that bought more. 😅
The bigger buyer was Strive, a publicly traded company with the ticker ASST. It disclosed the purchase on the 13th. This was its biggest buying spree so far this year. Its holdings rose from 29,462 coins to 32,773, an increase of about 11%. At the October 9 price of $82,300, those coins were worth $2.7 billion. 💰
Where did the money come from? Mainly from warrant exercises. Investors exercised about $208 million worth of warrants, turning them into cash. Another $15.3 million worth of warrants expired worthless at 5 p.m. on October 13. In my view, this kind of funding is basically a one-off. Once it’s spent, they’ll need to find a new way to raise money. 🤨
Meanwhile, Strategy bought just 250 coins this week, spending $21.5 million. Where did the rest of its money go? It spent $192.4 million buying back its own preferred stock. Its Bitcoin purchase was less than one-ninth of its buyback spending. It still holds 848,250 coins. 📉
Saylor is Strategy’s executive chairman. He publicly applauded Strive’s big purchase. Put simply, he pulled back himself but cheered on his rival. Both companies are competing for the same pool of investors who treat Bitcoin like a treasury reserve. They’re still tied to the same boat. 🤝
Right now, $BTC is hovering around $83,290. That’s about 34% below the all-time high of $126,080. Smaller companies are still charging in, while the industry leader is buying back its own stock. I think the contrast is worth a closer look. 🧐
📌 One side is spending $280 million to buy Bitcoin; the other is spending $190 million buying back its own stock.
If you were in this position, would you buy along—or wait a little longer?