Overview
- Bitcoin has dropped roughly 11% over the past week to about $91,600–$91,700 during the latest pullback.
- MicroStrategy disclosed a Nov. 17 purchase of 8,178 BTC for about $835.6 million at an average price near $102,171, lifting its holdings to 649,870 BTC worth roughly $59.5 billion, according to Saylor Tracker.
- The company’s market-to-NAV multiple has compressed to about 1.11x from around 1.52x at Bitcoin’s October peak.
- Analytics firm CryptoQuant estimates roughly 40% of MicroStrategy’s BTC lots now show unrealized losses, with the newest tranche down about 10%.
- Saylor said the firm was buying daily during Nov. 10–16 and denied rumors of sales, as disclosures also showed new institutional interest from Canada’s CPP and a Florida pension fund.