MicroStrategy founder Michael Saylor, after announcing last week that MicroStrategy had increased its holdings by 27,200 Bitcoins, stated yesterday (18th) that MicroStrategy used $4.6 billion in funds to buy an additional 51,780 Bitcoins at an average price of $88,627!
Bitcoin dipped to a low of $89,375 around 10 PM last night, then initiated a rebound, reaching a high of $92,644 around midnight. However, selling pressure emerged, causing Bitcoin to oscillate between $90,000 and $92,000, continually washing out positions.
As of the time of writing, BTC is reported at $90,989, reflecting a 0.57% increase in the last 24 hours.
In the past 24 hours, $336 million worth of liquidations occurred across the network
In the midst of Bitcoin's fluctuating trend, data from Coinglass shows that in the past 24 hours, the total amount of liquidations across the cryptocurrency network reached $336 million, with long positions liquidated at $203 million and short positions at $133 million, affecting over 110,000 people.
MicroStrategy has increased its holdings
Currently, there is no clear direction for BTC's short-term trend; however, it is worth noting that Michael Saylor, founder of MicroStrategy, which is the dominant holder of Bitcoin among publicly listed companies in the U.S., announced on social media platform X last night (18th) that MicroStrategy had again purchased 51,780 Bitcoins at an average price of $88,627 using $4.6 billion in funds after announcing an increase of 27,200 Bitcoins last week.
MicroStrategy has purchased 51,780 Bitcoins at a cost of approximately $4.6 billion, with an average price of about $88,627 per Bitcoin. As of November 17, 2024, we hold a total of 331,200 Bitcoins, with a total purchase cost of about $16.5 billion, averaging $49,874 per Bitcoin. This quarter, MicroStrategy's Bitcoin yield is 20.4%, with a year-to-date yield of 41.8%.
MicroStrategy's Bitcoin holdings have reached 331,200 BTC
According to the latest data from bitcointreasuries, after this latest accumulation, MicroStrategy's Bitcoin holdings have reached 331,200 Bitcoins, with a total value of $29.954 billion, total cost of $16.518 billion, and unrealized profit of approximately $13.4 billion.
MicroStrategy Bitcoin Holdings
Additionally, crypto KOL @remouherek also added that the funds used by MicroStrategy to purchase Bitcoin come from the proceeds of its issuance and sale of stock, specifically its ATM plan. So far, MicroStrategy has used $5.7 billion from the ATM plan to purchase Bitcoin, with $15.3 billion remaining available for continued accumulation.
MSTR has risen 59% in the past month
According to Google Finance data, alongside Bitcoin's rise and MicroStrategy's continued accumulation, MicroStrategy's stock price (MSTR) has been incentivized to rise 59% this month, reported at $343, with a market capitalization exceeding $70 billion.
MicroStrategy stock price. Source: Google Finance
Michael Saylor: Bitcoin will bring about a capital revolution
Why can MicroStrategy continue to fulfill its commitment to constantly accumulate Bitcoin? Recently, Taiwanese Web3 YouTuber 'Bonnie Blockchain' interviewed Michael Saylor, who stated in the interview that he believes the value of Bitcoin lies in the fact that it is not just a digital currency; its true value is in optimizing capital structure, disrupting traditional financial systems, and helping disadvantaged companies fight against today's tech giants.
Bitcoin is not only a currency tool but also a tool that can optimize capital structure. If companies can incorporate Bitcoin into their balance sheets, it will greatly enhance their attractiveness in the stock market and can promote capital flow and growth.
Bitcoin is a form of digital energy. People were afraid of fire before realizing it was a good thing; people were afraid of electricity before realizing it was a good thing. Initially, people were also skeptical of Bitcoin, but over time, they found that Bitcoin would become a driving force for economic and technological progress.
Cathie Wood: Bitcoin has a long way to go
Additionally, Ark Invest founder and female stock guru Cathie Wood recently stated that although Bitcoin has surpassed the historical high of $90,000, in her view, Bitcoin is still far from its price target and has a long way to go.
We believe we have a long way to go, although Ark was the first asset management company to invest in Bitcoin at $250 in 2015.
In our base case scenario, our goal is for Bitcoin to reach $650,000 by 2030; in a bull market, Bitcoin could reach between $1 million and $1.5 million.
