Bitcoin's "Number One Fan" Strikes Again: MicroStrategy Scoops Up $530 Million, Holdings Approaching 600,000 Coins

Original Article Title: "MicroStrategy Doubles Down with Additional $530 Million Bitcoin Purchase, Holding Nears 600,000 BTC, Michael Saylor: 'You Will Only Wish You Had Bought More Initially'"

Original Article Author: Editor Jr., BlockTempo

According to an 8-K filing submitted to the SEC by MicroStrategy on June 30, the company once again bought 4,980 bitcoins between June 23 and 29, spending a total of $531.9 million at an average price of around $106,801. This transaction increased the company's total holdings to 597,325 BTC, representing approximately 2.8% of the Bitcoin supply, with an average cost of $70,982.

Bitcoin Maximalist Continues to Accumulate, Reaffirming Long-Term Position

Bitcoin maximalist Michael Saylor has once again pressed the "buy" button. According to an 8-K filing submitted to the SEC by MicroStrategy on June 30, the company bought an additional 4,980 bitcoins between June 23 and 29, spending a total of $531.9 million at an average price of around $106,801.

This transaction increased the company's total holdings to 597,325 BTC, representing approximately 2.8% of the Bitcoin supply, with an average cost of $70,982. This latest accumulation continues MicroStrategy's strategy of "only adding, never reducing." Saylor also reiterated his long-term position over the weekend on X platform, stating, "In 21 years, you will only wish you had bought more Bitcoin initially."

Funding Sources: Three ATM Channels

According to the documents, MicroStrategy once again utilized three At-The-Market (ATM) equity offerings to raise cash, including:

· MSTR Common Stock: Sold 1,354,500 shares, raising $519.5 million, with a remaining capacity of $18.11 billion.
· STRK 8% Perpetual Preferred Stock: Sold 276,071 shares, raising $28.9 million, with a remaining capacity of $20.52 billion.
· STRF 10% Perpetual Preferred Stock: Sold 284,225 shares, raising $29.7 million, with a remaining capacity of $1.94 billion.

The three tranches totaled $5.781 billion, and in addition to the Bitcoin purchases, MicroStrategy also paid dividends for STRK and STRF that were due on June 30.

Remaining $40.6 Billion Available for Further Purchases, Potential Pressure to Watch For

Currently, there is approximately $40.6 billion still available in the aforementioned three tranches, providing ammunition for the ongoing Strategy of executing a "Stock Issuance – Bitcoin Purchase – Stock Price Boost" flywheel model. However, with preferred stock dividends at 8% and 10% respectively, cash flow pressure will increase with the expansion of the issuance volume; common stockholders will also face stock dilution.

MicroStrategy Included in Russell 200 Value Index

Furthermore, according to Bitcoin News, MicroStrategy's stock has now been included in the Russell 200 Value Index. The Russell 200 Value Index is a type of index maintained by FTSE Russell, belonging to the Russell Index series. It selects stocks with "value-type" characteristics from the largest 200 U.S. listed companies in the Russell 3000 Index, measures the performance of U.S. mega-cap value stocks through market capitalization weighting, and usually serves as a benchmark for mega-cap value investing.

Stock Price and Bitcoin Market Performance

According to Google Finance data, MicroStrategy's stock price has risen by 34% year-to-date. As of the close of July 1 after the U.S. stock market opened on June 30, MSTR was trading at $404.23, up by 5.3%, with a market capitalization of approximately $112.9 billion.

Additionally, in the Bitcoin market, BTC has been trading sideways around the $107,000 level for over a week, without showing a clear direction.