I ran the numbers: Strategy holds 848,000 BTC, having spent a total of $64 billion. That puts its average cost just over $75,000 per coin.
Bitcoin is now at $79,800, less than 6% above its cost basis.
Seen in that light, it makes sense that this week they didn’t buy a single coin and instead used $200 million to buy back STRC. The more they buy at around $80,000, the higher their average cost rises, making it easier for a modest Bitcoin pullback to push the price below their cost basis.
For the market, that makes $75,000 a particularly firm floor. With the cost basis of 840,000 coins sitting there, if the price really fell to that level, they wouldn’t just sit back and watch. They’d very likely be the first to rush in and scoop up Bitcoin.
In my view, pausing their purchases this week actually drew a line in the sand below. Above $75,000, Bitcoin can only fall so far.
#strategy #热门话题 #BNB #Binance #BTC
Bitcoin is now at $79,800, less than 6% above its cost basis.
Seen in that light, it makes sense that this week they didn’t buy a single coin and instead used $200 million to buy back STRC. The more they buy at around $80,000, the higher their average cost rises, making it easier for a modest Bitcoin pullback to push the price below their cost basis.
For the market, that makes $75,000 a particularly firm floor. With the cost basis of 840,000 coins sitting there, if the price really fell to that level, they wouldn’t just sit back and watch. They’d very likely be the first to rush in and scoop up Bitcoin.
In my view, pausing their purchases this week actually drew a line in the sand below. Above $75,000, Bitcoin can only fall so far.
#strategy #热门话题 #BNB #Binance #BTC