MicroStrategy buy 430 Bitcoin, Treasury 629K
For August 18, MicroStrategy buy 430 Bitcoin for $51.4 million at average price of $119,666, wey dem fund through selling shares under their updated equity-at-the-market rules. This na their third straight weekly buy, bring their company treasury to 629,376 BTC — nearly 3% of the Bitcoin wey dey for market. August buys total reach 585 BTC. To minimize market wahala, MicroStrategy dey do acquisitions through OTC deals and private agreements, dem dey scatter orders against Bitcoin daily volume of $50 billion. At current price, their Bitcoin show unrealized gain of about $25.8 billion (56%). Even though Bitcoin drop like 5% last week and MicroStrategy shares fall reach four-month low near $325 before e rise again to around $358, the company still dey committed to long-term Bitcoin buying and still be the biggest corporate Bitcoin holder.
Bullish
MicroStrategy dey continue dey accumulate Bitcoin—now total dem get 629,376 BTC—and dem dey do strategic OTC purchases dem show say institutional demand strong, e reduce wetin dey available and e dey support price. For short term, market fit still dey volatile as Bitcoin and MicroStrategy shares dey adjust, but long-term fundamentals dey bullish: ongoing big buy-ins from one big company wey hold plenti Bitcoin show say dem get confidence for Bitcoin value and e fit push price go higher.