MicroStrategy Purchases $2 Billion Worth of Bitcoin

Market Analysis Forum
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Baileyfrank4 said:
@Zan
Lol. I bought 40 BTC off some libertarian douchebag on an internet forum in 2010 so I could use it on Silk Road. Unlike you, I actually used the shit for its intended purpose, as a currency.

And here you are, an early adopter, being shitty to other people about Bitcoin. I’m not defending the commenter’s inaccuracies, just telling you that we have a responsibility to cultivate a good culture here for every person interested in BTC.

For the commenters - pricing is more or less a result of the average of all buy and sell orders across all order books. Since Bitcoin is a global phenomenon accessible 24/7, the ‘just hold’ mentality doesn’t really apply. You cannot coordinate enough people to make a significant price squeeze or influence price in any way. There has to be an external mechanic that compels the masses to hold their supply or buy at higher prices. It’s just simply more complex than you’re making it out to be.

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@Eden
1M BTC by 2030? You sound like the 100k BTC EOY back in 2022 multiplied by 100; crazy.

There is no way BTC is going to 1M by 2030.

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Fifer said:
Damn buying hard at ATH, this guy is crazy.

To be fair, they did it at the ATH before and even in the bear… very consistent.

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Fifer said:
Damn buying hard at ATH, this guy is crazy.

He did say he’d be buying the tops, so not surprising lol.

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Fifer said:
Damn buying hard at ATH, this guy is crazy.

Apparently their strategy is to see micro gains.

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Fifer said:
Damn buying hard at ATH, this guy is crazy.

It’s not like they buy 2B at spot price, lmao. Y’all need to chill.

Just their monthly DCA.

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Just hope he doesn’t do what Elon did to us years ago.

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Finnley said:
Just hope he doesn’t do what Elon did to us years ago.

Kinda hope he does. Q1 2026 or something, after we all sold the bull market top. Excellent moment to be in it for the tech. :pray:

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Finnley said:
Just hope he doesn’t do what Elon did to us years ago.

I’d have to move under a bridge if he sold 20 billion worth of his Bitcoins, lol.

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Whenever someone asks if they should DCA now, I’m gonna send them this.

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SophyGenesis said:
Whenever someone asks if they should DCA now, I’m gonna send them this.

Good reference point :point_down:.

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SophyGenesis said:
Whenever someone asks if they should DCA now, I’m gonna send them this.

That’s not really DCAing though.

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Wyatt said:

SophyGenesis said:
Whenever someone asks if they should DCA now, I’m gonna send them this.

That’s not really DCAing though.

They literally are.

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Jane said:

Wyatt said:
SophyGenesis said:
Whenever someone asks if they should DCA now, I’m gonna send them this.

That’s not really DCAing though.

They literally are.

They buy 2B every month?

Fair enough if they literally do.

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@Wei
Not exactly 2B every month, but they buy consistently and there is no reason for them to stop. They made their intentions clear, and investors seem to be behind them.

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Jane said:
@Wei
Not exactly 2B every month, but they buy consistently and there is no reason for them to stop. They made their intentions clear, and investors seem to be behind them.

Buying consistently is not the same as DCA. 80% of the people on here have no idea what DCA actually is, and it shows.

37

@Timber
Please explain how buying something consistently, regardless of current price, is not DCA.

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@Timber
When you invest in the billions, you don’t do it on a monthly schedule, and I wanted to make that clear.

You’re also clueless as to what DCA actually is; it doesn’t have to be monthly as long as it’s rebalancing the cost basis of the asset.

It can be every day, week, year, it can be twice or three times or a million times.

Stay in your lane.

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TL;DR: MicroStrategy, the largest corporate holder of Bitcoin, has announced the acquisition of approximately 27,200 bitcoins between October 31 and November 10, 2024, for a total of $2.03 billion. The average price per Bitcoin for this purchase was around $74,463. This acquisition was funded by proceeds from the company’s issuance and sale of shares. As of November 10, 2024, MicroStrategy holds a total of 279,420 BTC, acquired at a total cost of around $11.9 billion, with an average price of about $42,692 per Bitcoin.

*This summary is auto-generated by a bot and not meant to replace reading the original article. As always, DYOR.

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