Strategy raised 283.8 million dollars last week. Only 81.9 million of it bought $BTC .
That's about 29 cents per dollar. Another 188.3 million went to buying back its own STRC preferred stock, per the Nov 9 filing.
Now MSCI says it will drop Strategy from its global indexes after the Nov 30 close. Funds tracking them hold about 13 million shares, roughly 1.6 billion dollars' worth.
The premium that fed the machine has mostly gone. mNAV peaked at 3.4x in November 2024. It's about 1.08x now.
The stack: 850,364 BTC at an average cost of 75,456 dollars. At 73,288, that's about 1.8 billion under what it paid.
Last week, the biggest bitcoin buyer was mostly a buyer of its own paper.
#MicroStrategy #Bitcoin
NFA. DYOR.
That's about 29 cents per dollar. Another 188.3 million went to buying back its own STRC preferred stock, per the Nov 9 filing.
Now MSCI says it will drop Strategy from its global indexes after the Nov 30 close. Funds tracking them hold about 13 million shares, roughly 1.6 billion dollars' worth.
The premium that fed the machine has mostly gone. mNAV peaked at 3.4x in November 2024. It's about 1.08x now.
The stack: 850,364 BTC at an average cost of 75,456 dollars. At 73,288, that's about 1.8 billion under what it paid.
Last week, the biggest bitcoin buyer was mostly a buyer of its own paper.
#MicroStrategy #Bitcoin
NFA. DYOR.
