Guys!! Wall Street is pulling out, but Saylor is still buying!!!
SoSoValue data (TokenPost, November 3): U.S. spot BTC ETFs saw another net outflow of about $399 million on November 2, marking their second straight day of outflows~ The wildest part is that almost all of it came from BlackRock’s IBIT, with about $405 million flowing out in a single day; of the 12 funds, only Fidelity’s FBTC saw a small inflow of about $6.7 million, while all the others were at 0.
Meanwhile, Strategy just disclosed in its Monday 8-K filing that it bought another 811 BTC from October 26 to November 1, spending about $65.5 million at an average price of roughly $80,800. It now holds a total of 849,327 BTC, at an overall average cost of about $75,500 (Strategy’s website/The Block).
Honestly, this contrast is so interesting haha!! According to CoinGecko, Bitcoin is currently around $76,500, down more than 2% in 24 hours, and only a little over a thousand bucks above Saylor’s overall cost basis of $75,500~ If it gets pushed down a bit further, the world’s biggest Bitcoin-hoarding company will be “underwater,” and then the group chats will surely be full of scary talk again.
But don’t let it scare you: hovering near the cost basis doesn’t mean they’re about to blow up; most of their money came from selling stock. I’ll say it again: don’t go all-in on leverage before the election results are out. If it drops to around $76,000, just start buying in gradually and you’re good!!!
Do you think IBIT is bailing out here, or just rebalancing?
$BTC $MSTR
#ETF #Strategy #币圈
SoSoValue data (TokenPost, November 3): U.S. spot BTC ETFs saw another net outflow of about $399 million on November 2, marking their second straight day of outflows~ The wildest part is that almost all of it came from BlackRock’s IBIT, with about $405 million flowing out in a single day; of the 12 funds, only Fidelity’s FBTC saw a small inflow of about $6.7 million, while all the others were at 0.
Meanwhile, Strategy just disclosed in its Monday 8-K filing that it bought another 811 BTC from October 26 to November 1, spending about $65.5 million at an average price of roughly $80,800. It now holds a total of 849,327 BTC, at an overall average cost of about $75,500 (Strategy’s website/The Block).
Honestly, this contrast is so interesting haha!! According to CoinGecko, Bitcoin is currently around $76,500, down more than 2% in 24 hours, and only a little over a thousand bucks above Saylor’s overall cost basis of $75,500~ If it gets pushed down a bit further, the world’s biggest Bitcoin-hoarding company will be “underwater,” and then the group chats will surely be full of scary talk again.
But don’t let it scare you: hovering near the cost basis doesn’t mean they’re about to blow up; most of their money came from selling stock. I’ll say it again: don’t go all-in on leverage before the election results are out. If it drops to around $76,000, just start buying in gradually and you’re good!!!
Do you think IBIT is bailing out here, or just rebalancing?
$BTC $MSTR
#ETF #Strategy #币圈