MicroStrategy Spends $95.5M to Buy 884 BTC, Holdings Top 641.7K BTC
MicroStrategy boosted its Bitcoin holdings with two purchases totaling 884 BTC. Between October 27 and November 2, it acquired 397 BTC for $45.6 M at an average price of $114,771. From November 3 to 9, it added 487 BTC for $49.9 M at $102,600 per coin. Funded via its ATM equity offering (including preferred shares), the program still has $46.18 B in unused capacity. Holdings now stand at 641,692 BTC with a cumulative cost of $47.54 B and an average cost basis of $74,079. The company reports a 26.1% year-to-date Bitcoin investment yield. Despite these purchases, Bitcoin is trading about 6% below MicroStrategy’s cost, leading skeptics like Peter Schiff to question the moves’ price-support impact.
Neutral
Although MicroStrategy’s cumulative purchase of 884 BTC shows continued institutional demand and provides some buying support, the volume remains small relative to Bitcoin’s total market size and daily trading volumes. In the short term, these acquisitions are unlikely to reverse the downward price trend or spark a sustained rally. Over the longer term, however, steady accumulation and a reported 26.1% YTD yield may bolster confidence among traders and other institutions—provided the company or others significantly scale up buying activity to meaningfully impact market liquidity.