Why MicroStrategy’s Latest Bitcoin Purchase Is Deeply Concerning

MicroStrategy disclosed its latest Bitcoin purchase on January 26. In its 4th purchase of the month, the company acquired 264.1millioninBitcoinatanaveragepriceof264.1 million in Bitcoin at an average price of 90,061 per BTC.  The acquisition brings the company’s average cost of Bitcoin purchase to 76,037.ThepurchasecameasBitcointradedinavolatileJanuaryrange,slippingfromearlymonthhighsabove76,037. The purchase came as Bitcoin traded in a volatile January range, slipping from early-month highs above 95,000 to the high-$80,000 range. Latest Buy Details and Funding Structure While the headline buy reinforces MicroStrategy’s long-term ...