Microstrategy continues to buy bitcoins – around 500,000 BTC are now in the portfolio
- Microstrategy increases its Bitcoin portfolio to almost 500,000 tokens after buying another 130 bitcoins for $ 10.7 million.
- Bitcoin is predicted further correction because the demand decreases by 140,000 BTC, which is far below the drains in the last crisis.
In a recent update, we reported on the intention of Microstrategy to raise $ 21 billion to buy more bitcoins. The decision fits the usual strategy of the company, but there was the opportunity to “buy the DIP” which in this special case was considerable. Michael Saylor said in one public statementthat Microstrategy bought 130 bitcoins for $ 10.7 million at a price of $ 82,981 per token. According to him, a Bitcoin return of 6.9 % has been achieved by March 16 since the beginning of the year.
When checking an accompanying submission, we found that no class A shares were sold under his “AT-The-Market Offering Program”. In the meantime, the company concluded with several companies, including TD Securities, The Benchmark Company, Canaccord Genuity, Cantor Fitzgerald and Co and Compass Point Research and Trading, a sales agreement for the output and sale of 8% Perpetual Strike Preferred Stocks of Serie A on March 10. According to the document, these were sold at a nominal value of $ 0.001 per share (STRK) with a total offer price of up to $ 21 billion.
On March 17, it was announced that Microstrategy sold a total of 123,000 StrK shares as part of the STRK ATM between 10 and 16 March. The total net proceeds for the company of around $ 10.7 million were used to buy Bitcoin. As of March 16, around $ 20.99 billion in CHP shares were available for output and sale.
On March 16, Microstrategy kept approximately 499,226 Bitcoin, which were acquired at a total price of approx. $ 33.1 billion and at an average purchase price of $ 66,360 per bitcoin, including fees and costs.
Bitcoin kursa
According to this report, Bitcoin has had a slight increase of 0.18%in the last 24 hours. Nevertheless, the monthly return decreases by 14.9%, while the asset is traded at $ 83k. According to our market data, Bitcoin’s market capitalization is currently around $ 1.64 trillion, with a market dominance of 60.78%. In the meantime, the 24-hour trading volume has recorded an impressive increase of 86.8%, as $ 25.3 billion changed hands at the time of printing.
Currently, the data from Cryptoquant indicates that Bitcoin could initiate another correction because Bitcoin demand decreases by 140,000 BTC. According to reports, this is lower than in the last crisis, which occurred to drainage of 268k BTC and 437K BTC.
Nevertheless, it is reported that the upward cycle is underway because the fundamental data is still strong. As CNF reported, US President Donald Trump recently signed an executive order to set up a state Bitcoin financial reserve. According to analysts, this could trigger a housesee.
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