Michael Saylor saved it temporary on social media at this time: “Are you a Bull?” No market evaluation, no value targets — simply the query, paired with a picture of a lone purple bull standing out in a discipline of sheep.
The put up got here a day after Technique (previously MicroStrategy) disclosed its newest Bitcoin buy. The corporate acquired 4,020 BTC for $427 million, paying a median of $106,237 per coin. The acquisition was funded by a mixture of inventory and most popular safety gross sales.
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With this newest transfer, Technique now holds 580,250 BTC — about 3% of the full provide that may ever exist. It’s the firm’s second main accumulation this month, bringing its Could whole to over 11,000 BTC to this point.
At present costs, the agency’s Bitcoin stash is valued at round $63.46 billion. Technique’s market cap stands at $102.5 billion, whereas its enterprise worth sits simply above $110 billion. Roughly 62% of the corporate’s valuation is tied on to its Bitcoin place. The inventory, buying and selling underneath the ticker MSTR, is priced at $370.71, with a NAV a number of of 1.616.
Bitcoin Technique
Technique started its Bitcoin-focused method in August 2020 and has caught with it by market volatility. The corporate has used fairness raises, debt choices and inner money to broaden its holdings — usually stepping in with massive buys throughout each rallies and pullbacks.
Yesterday’s buy continues that sample, coming at a time when each Bitcoin and MSTR shares are buying and selling close to native highs.
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The message from Saylor didn’t include a press launch or a breakdown. However the timing traces up — and the query stands.
Are you a bull?