MicroStrategy Announces an Additional $500 Million Bitcoin Purchase, but Stock Price Plummets Nearly 8%: Has BTC's Pulling Power Failed?

Investment firm Kerrisdale Capital is shorting MicroStrategy shares, saying the company's shares are trading at an "unreasonable premium" to Bitcoin. Sahm Adrangi, chief investment officer at Kerrisdale Capital, said: "Bitcoin prices must rise for the value of MicroStrategy to rise. If the price of Bitcoin falls, the value of MicroStrategy will also fall, and MicroStrategy should trade at the value of Bitcoin, so our argument is 'short MicroStrategy, long Bitcoin'." (Cointelegraph)

According to U.Today, Michael Saylor, CEO of MicroStrategy and a well-known Bitcoin advocate, has once again shared his thoughts on the cryptocurrency market. Saylor's company is among the largest corporate holders of Bitcoin, reflecting his bullish stance on the cryptocurrency. In a recent social media post, he emphasized a crucial piece of advice for digital asset enthusiasts. In cryptocurrency terminology, a 'sat' refers to a satoshi, the smallest unit of Bitcoin, named after its enigmatic creator, Satoshi Nakamoto. Therefore, 1 BTC equals 100 million satoshis. The phrase 'stack sats' has gained popularity among Bitcoin supporters, promoting consistent accumulation over time, irrespective of price fluctuations. This philosophy highlights the significance of long-term investment and patience, suggesting that accumulating small amounts of cryptocurrency can gradually result in substantial gains over time. Saylor's message embodies this investment strategy and mirrors his broader views on Bitcoin. He promotes a disciplined approach to investing, cautioning against the dangers of attempting to time the market or making large, speculative bets. MicroStrategy has frequently made news for its significant investments in Bitcoin, and Saylor's persistent advocacy has established him as a prominent voice in the crypto space. While he encourages people to be humble and accumulate Bitcoin, even in small fractions, the price of the leading cryptocurrency continues to test everyone's patience. For the past fortnight, BTC has been trading within an extremely narrow price range, with an upper limit of $72,000 and a lower one of $66,800. Most of the time, the price of Bitcoin is maintained at $68,000.

マイクロストラテジー（MicroStrategy）は第1四半期に15億ドル（約2325億円、1ドル=155円換算）以上の資金を調達し、その資金で2万5250ビッ ... The post マイクロストラテジーはビットコインの1%を保有：調査報告 first appeared on CoinDesk JAPAN（コインデスク・ジャパン）. source: https://www.coindeskjapan.com/230752/

仮想通貨ビットコインを大量に保有しているが、2024年1Q業績については、売上高は前年同期比5%減の1億1,520万ドルとなった。株価は暴落している。 source: https://coinpost.jp/?p=528249

According to CryptoPotato, MicroStrategy, a business intelligence company, has continued to expand its Bitcoin holdings, recently purchasing an additional 122 BTC for approximately $8 million. This brings the company's total Bitcoin holdings to 214,400. Despite a recent decline in Bitcoin's value, the NASDAQ-listed company remains committed to its Bitcoin investment strategy. In 2024 alone, MicroStrategy has acquired over 25,000 BTC. The company's recent acquisition in April was made at a time when Bitcoin's value was experiencing a dip. Bitcoin reached a record high of over $73,000 in March 2024 but has since declined by more than 13%, currently trading at around $63,400. MicroStrategy's total Bitcoin holdings, valued at approximately $13.6 billion, were purchased for $7.5 billion, at an average price of $35,164 per coin. This includes a total of 25,250 BTC bought since the end of Q4 2023 for $1.65 billion, or at an average cost of $65,232 per coin, largely funded by two successful convertible debt offerings. However, the company's Q1 2024 financial results revealed a 5.5% decrease in revenue, down to $115.2 million compared to the same period in 2023. The report also noted a net loss of $53.1 million in Q1 2024, or $3.01 per share, compared to a net income of $461.2 million in the same quarter in 2023. This net loss was largely due to a digital asset impairment loss of $191.6 million in the first quarter of 2024. Despite these financial setbacks, MicroStrategy remains the world's largest corporate holder of Bitcoin.

3月11日、1万2000BTCの追加購入を発表した後、CNBCに出演したマイクロストラテジー（MicroStrategy）のマイケル・セイラー（Michael ... The post ビットコインは金を圧倒する： マイクロストラテジーCEO first appeared on CoinDesk JAPAN（コインデスク・ジャパン）. source: https://www.coindeskjapan.com/223394/

Michael Saylor said in a new interview with CNBC that MicroStrategy is now a Bitcoin development company, just like a real estate or oil developer. Data shows that MicroStrategy's stock price has risen from $450 to about $717 in the past three weeks, a year-on-year increase of 187%, thanks to the rise in Bitcoin prices. (WatcherGuru)

 Macro/TradFi Microstrategy expanded its Bitcoin holdings by purchasing 16,130 BTC at an average price of US$36,785 per coin. This acquisition brings their total Bitcoin holdings to 174,530 BTC, with an average purchase price of around US$30,252 per coin.  Circle, the issuer of USDC stablecoin, has partnered with Japanese financial giant SBI Holdings, to expand its presence in Japan. This partnership comes after Japan's revision of the Payment Services Act in June, introducing new regulations for stablecoins. Pando Asset, a Swiss asset management company, has filed an application for a spot Bitcoin ETF, expanding its offerings beyond crypto exchange traded products already available in Europe. Nine Blocks Capital Management has become the first cryptocurrency hedge fund to receive a license from Dubai’s Virtual Assets Regulatory Authority (“VARA”), as it moves to establish Dubai as its global headquarters. Standard Chartered has joined China's CBDC pilot program, providing e-CNY services to clients and exploring the potential applications of digital currency in China's financial ecosystem. Crypto L1/L2: Animoca Brands has become the largest validator of The Open Network (TON) Blockchain. They will also support the TON ecosystem with funding, research, and an analytics platform for mini-apps. The Cosmos Hub governance body approved a proposal to cap the Atom token's inflation rate at 10%, reducing it from the previous rate of around 14%. This adjustment is expected to lower Atom's annualized staking yield from approximately 19% to around 13.4%. DeFi: Chainlink has announced the launch of Staking v0.2, with a 45M LINK pool and a nine-day priority migration period for existing stakers. This expansion, part of Chainlink's Economics 2.0 plan, aims to enhance network security and open the door to a more diverse set of LINK holders. Talos, an institutional crypto trading platform, is tapping into Uniswap's liquidity, diversifying beyond its usual centralized exchange sources and allowing its institutional clients to access trading through Uniswap. This marks Talos' first integration with a decentralized exchange and Uniswap Labs' debut in enterprise API partnerships. Decentralized exchange dYdX has released 150M tokens, accounting for 30% of its allocation to investors, founders, and employees, marking its first major token emission event. Others: Wormhole, a cross-chain messaging protocol, has raised US$225M at a US$2.5B valuation. Wormhole also unveiled Wormhole Labs as a core contributor, which will specialize in products and tools that help expand cross-chain activity and development. A16z led a US$5M seed round for Setter, a consumer app for Web3-powered commerce, designed to help brands offer exclusive products and limited edition drops, while simplifying wallet technologies for easier Web3 access. Grove, a decentralized physical infrastructure (DePIN) provider, secured US$7.9M in funding from Fidelity-affiliated Avon Ventures, Placeholder Capital, and Druid Ventures. Grove plans to use this capital to forge new partnerships and propel DePIN towards widespread adoption. Binance Labs has invested $3.15M in Open Campus, a community-led Web3 platform that tokenizes educational content, allowing creators to monetize their publications.  Latest Binance Research Publications  Check out our latest publications: Monthly Market Insights - December 2023 Decoding Cross-Chain Interoperability   Data Insights: Exploring Crypto Fundraises Explore our Binance Research website for more project and macro research reports and the Binance Legal website for latest updates and consultation responses. For more frequent market updates and insights, follow us on Twitter @BinanceResearch.  Have a minute? Please share with us any feedback you may have via this form. That’s a wrap! 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Odaily Planet Daily News According to a report by CoinGecko, 46% of MicroStrategy’s Bitcoin assets were purchased in 2020. In the third and fourth quarters of 2020, MicroStrategy purchased 38,250 BTCs (average price $11,151) and 32,220 BTCs respectively. As of August 17, these BTCs accounted for 46.12% of MicroStrategy’s bitcoin assets. The third quarter was the largest purchase, a move that marks MicroStrategy as the first public company to hold BTC, a seminal milestone. In the first seven months of fiscal year 2023, MicroStrategy has accumulated 20,300 BTC at an average price of $28,751.