MicroStrategy buy 4,980 BTC, Treasury don pass 597K BTC
MicroStrategy don announce say dem buy 4,980 BTC for June 30, the money for the buy come from $519 million common stock plus $59 million preferred shares. Now, dem get total 597,235 BTC, the average price dem pay na $70,982, this one dey value the company treasury for around $64 billion since bitcoin dey trade close to $107,700. The company treasury don give 19.7% bitcoin yield this year till now, and the June buys get like 3.6% unrealized profit. Shares rise by 1.3% for premarket trading. CEO Michael Saylor don confirm say the long-term bitcoin price target na $21 million and him compare bitcoin to “digital energy.” This steady way wey dem dey use equity take buy shows say institution trust bitcoin well well and fit make people for bitcoin market more confident.
Bullish
MicroStrategy di sustain equity-financed buy of 4,980 BTC and di di growin bitcoin treasury dey signal strong institutional demand wey normally dey support bullish momentum. For short term, di 1.3% share price gain and up to 3.6% unrealized gains for June acquisitions fit make traders follow, boost liquidity and push price up. Long term, di reaffiirm $21 million bitcoin price target and 19.7% YTD yield show confidence for bitcoin value, e fit encourage wider institutional adoption and sustained bullish sentiment for market.