MicroStrategy Buys 8,178 BTC, Holds 649,870 Bitcoin
MicroStrategy has acquired an additional 8,178 BTC for approximately $835.6 million at an average price of $102,171 per Bitcoin. This brings its total Bitcoin holdings to 649,870 BTC at an average cost of $74,433, up 27.8% year-to-date. Funding came mainly from a $700 million STRE stock issuance and its at-the-market equity program.
Despite aggressive accumulation, Bitcoin dipped below $94,000, trading near $93,500 amid a Wyckoff distribution phase with support at $88,000–$90,000. MicroStrategy’s stock fell over 2% pre-market, with analysts forecasting a drop to $120 or a rebound to $260 if bullish momentum returns.
Meanwhile, BlackRock offloaded 4,880 BTC and 54,730 ETH to Coinbase Prime. Critic Peter Schiff labeled the strategy a “fraud” and challenged CEO Michael Saylor to debate. Traders should watch Bitcoin’s key support zones and institutional flows for short- and long-term signals.
Bearish
The report highlights continued institutional accumulation by MicroStrategy, which supports Bitcoin demand over time. However, the immediate price action shows a Wyckoff distribution phase and a dip below critical support levels, reflecting selling pressure from both market participants and large holders like BlackRock. Analyst forecasts of further downside to $120 for MSTR and the stock’s pre-market decline underline prevailing market caution. In the short term, these factors may exacerbate downside risk for Bitcoin. Over the long term, ongoing corporate HODLing could provide a bullish underpinning, but until clear support at $88,000–$90,000 holds and distribution pressure eases, the near-term outlook remains bearish.