MicroStrategy Buys 390 BTC, Holdings Reach 640,808 BTC
MicroStrategy has bought another 390 BTC for $43.4 million at an average price of $111,000, funded via at-the-market sales of its STRK and STRD preferred stock. This latest purchase brings its total Bitcoin holdings to 640,808 BTC, with October acquisitions reaching 914 BTC. At a cost basis of $47.44 billion, its bitcoin stack now holds an unrealized gain of 55.8%, valued at about $73.93 billion. The company’s equity issuance premium has narrowed from 208% to 4%, while MSTR shares are trading roughly 50% below their all-time high. On the day of the announcement, MicroStrategy’s stock rose 2.7%, despite a 26% decline over three months and a 16% gain year-to-date. Moreover, Tether’s USDT market cap has surged above its 30-day SMA, typically a bullish indicator for Bitcoin, supporting a price rebound to around $115,500 amid renewed corporate demand and stablecoin inflows.
Bullish
MicroStrategy’s continued Bitcoin accumulation through preferred-stock funding, combined with Tether’s USDT market cap rising above its 30-day SMA, signals strong corporate and stablecoin demand. In the short term, this additional 390 BTC purchase tightens available supply and boosts trader confidence, supporting a price rebound to around $115,500. Over the long term, Michael Saylor’s disciplined buying strategy and favorable equity issuance terms underscore institutional conviction in Bitcoin, likely attracting more investors and sustaining upward momentum in the crypto market.