On November 30, 2023, MicroStrategy Incorporated (“MicroStrategy”) entered into a Sales Agreement (the “Sales Agreement”) with Cowen and
Company, LLC (“Cowen”), Canaccord Genuity LLC (“Canaccord”) and BTIG, LLC, as sales agents (the “Agents”), pursuant to which MicroStrategy
may issue and sell shares of its class A common stock, $0.001 par value per share (“Common Stock”), having an aggregate offering price of up to
$750.0 million (the “Shares”), from time to time through the Agents (the “Offering”).
On November 30, 2023, MicroStrategy announced that, during the period between November 1, 2023 and November 29, 2023, MicroStrategy, together
with its subsidiaries, acquired approximately 16,130 bitcoins for approximately $593.3 million in cash, at an average price of approximately $36,785 per
bitcoin,
Rough Math looks like they are issuing well over a million shares. $750,000,000 / 500 (stock price) = 1,500,000 Shares
Speculation attack at work. If it weren’t Saylor, I’d think they were just accumulating to dump on the ETF. This is one of many cases where bitcoin is a self fulfilling prophecy.
99.999999% of people who have not accumulated 100M says by the end of 2024 will never accumulate that much in their lifetime.
His talk on Robert Breedlove's What is Money is very good and mind blowing. Maybe not for the deep Bitcoin person but from a point of view where Bitcoin was disregarded and then needed Michael Saylor definitely inspired me.
“It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.” - Satoshi Nakamoto
MicroStrategy's ongoing Bitcoin acquisitions continue to solidify its position as a major BTC holder, now totaling an impressive 174,530 Bitcoins—an exemplary commitment to cryptocurrency as a treasury reserve asset.
That's not really true. OTC markets still need to acquire the Bitcoin they sell to their customers. If they don't have enough on hand they need to get it on the open market just like everyone else.
It would be a bit like if you had 1 BTC and your uncle asked if he could buy 2 BTC from you. You could technically sell him the first one at any price you like (although, you're still incentivized to charge the market price) and the second one you'd have to go and buy on the open market.
Random thought - now, for every $5,730 movement in the BTC / dollar exchange rate, MSTR’s bitcoin is worth either a billion dollars more .. or less!
Rough Math looks like they are issuing well over a million shares. $750,000,000 / 500 (stock price) = 1,500,000 Shares
https://ycharts.com/companies/MSTR/shares_outstanding 14.52M currently outsanding
Those bitcoins are off the market, for ever. Most people understimate just how committed bitcoin maxis are to bitcoin.
I hope you guys are stacking accordingly.
Speculation attack at work. If it weren’t Saylor, I’d think they were just accumulating to dump on the ETF. This is one of many cases where bitcoin is a self fulfilling prophecy.
99.999999% of people who have not accumulated 100M says by the end of 2024 will never accumulate that much in their lifetime.
His talk on Robert Breedlove's What is Money is very good and mind blowing. Maybe not for the deep Bitcoin person but from a point of view where Bitcoin was disregarded and then needed Michael Saylor definitely inspired me.
https://youtube.com/playlist?list=PL2jAZ0x9H0bRvoNt1xNJWYa9_8_an03h0&si=UBYo0MbeckLDIPeq
“It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy.” - Satoshi Nakamoto
@lynaldencontact shared some insights about it on nostr
Nice read. Thanks.
MicroStrategy's ongoing Bitcoin acquisitions continue to solidify its position as a major BTC holder, now totaling an impressive 174,530 Bitcoins—an exemplary commitment to cryptocurrency as a treasury reserve asset.
When you understand the why of Bitcoin, you know what you need to do.
When you have the financial means of Michael J. Saylor with MicroStrategy, this is what it gives!
His goal of owning 1% of the total Bitcoin supply is getting closer...
How are MSTR's bitcoin custodied?
madman
They are buying in OTC markets and thus do not move the price by buying so many Bitcoin
That's not really true. OTC markets still need to acquire the Bitcoin they sell to their customers. If they don't have enough on hand they need to get it on the open market just like everyone else.
It would be a bit like if you had 1 BTC and your uncle asked if he could buy 2 BTC from you. You could technically sell him the first one at any price you like (although, you're still incentivized to charge the market price) and the second one you'd have to go and buy on the open market.
https://m.stacker.news/6380
Oh well they are all trying to the leader in the crypto market.
What are the odds of those coins ending up in the hands of the US government?
They have gone after him before and will again!
It's such a low hanging fruit. I don't see Saylor running away with a hardware wallet in the case of a 6102