MicroStrategy Double Bitcoin Since Trump Win, Buy $2.46B
MicroStrategy don don double their Bitcoin (BTC) treasury since Trump win for November 2024. The company grow their Bitcoin holdings from 252,220 BTC to 628,791 BTC by adding 376,571 BTC over nine months. Last week, MicroStrategy file SEC document to buy 21,021 BTC for $2.46 billion at average price of $117,256 per coin. This na dem third biggest dollar purchase since 2018. Earlier post-election buys include 55,500 BTC ($5.4 billion) and 51,780 BTC ($4.6 billion). At Bitcoin price near $114,244, company reserve dey worth about $72.2 billion against cost basis $73,277. CEO Michael Saylor call Bitcoin “freedom virus” and plan to boost returns through credit instruments via their STRC vehicle. MicroStrategy report record $1 billion profit for Q2. Their Bitcoin reserve now represent about 3.16% of circulating supply, show their strong market influence.
Bullish
MicroStrategy di continued big-scale Bitcoin purchase dey show say institutional demand strong, we fit support price momentum for short term. The SEC filing for additional $2.46 billion buy and planned credit instruments through STRC vehicle show say dem get more strong commitment to Bitcoin, make market confidence waka well. For long term, continued accumulation by public company plus record profit fit attract other institutions, wey go reinforce Bitcoin’s perceived value and potential upside.