MicroStrategy Buys 487 BTC, Holds 641.7K BTC, 26% YTD Gain
MicroStrategy acquired 487 BTC for about $49.9 million at an average price of $102,557 per coin on November 10, raising total holdings to 641,692 BTC. Following last week’s buy of 397 BTC for $43 million, the firm’s cumulative investment now stands at $47.54 billion with an average cost basis of $74,079 per BTC and a 26.1% year-to-date return. This disciplined accumulation has maintained unrealized gains despite premium purchase prices. Institutional investors and ETF issuers are taking note, and Kynikos Associates closed its short position on MicroStrategy shares, signaling growing confidence in corporate treasury strategies. Bitcoin’s price briefly jumped 1.5% to $105,321 after the announcement, underscoring corporate buys as a bullish market indicator. Continued transparent disclosures, including SEC Form 8-K filings, bolster market trust and may drive further institutional adoption and long-term price support for BTC.
Bullish
MicroStrategy’s ongoing purchase of large BTC volumes, including the recent 487 BTC acquisition, highlights sustained corporate confidence and institutional demand. The closure of Kynikos Associates’ short position and the immediate 1.5% price uptick reinforce positive trader sentiment. In the short term, this could spur additional buying pressure, while long-term disciplined accumulation and transparent SEC disclosures may attract further institutional involvement and underpin sustained price support for Bitcoin.