microstrategy

According to Bloomberg, MicroStrategy CEO Phong Le stated in an interview that the company will gradually shift from relying on issuing common stock to raising funds through the issuance of preferred stock for subsequent Bitcoin purchases.

As Bitcoin and other crypto assets decline, investors are turning cautious ahead of the release of key employment and inflation data in the U.S.Analysts say the market is in a consolidation phase, waiting for clarity on interest rate policy, while the demand for downside protection in crypto-related stocks like Coinbase and MicroStrategy is rising, reflecting institutions' vigilance towards short-term risks.

According to market news, Strategy founder Michael Saylor stated in a recent interview that despite short-term price pressures, Bitcoin is expected to yield returns 2-3 times that of the S&P index in the next 4-8 years. He pointed out that the current volatility provides an opportunity for strategic accumulation, and MicroStrategy will continue to accumulate Bitcoin assets as planned.

MicroStrategy stated during a live interview on a Middle Eastern television program that if the company sells credit instruments equivalent to 1.4% of its capital assets, it can pay the MSTR dividend and permanently increase the amount of BTC it holds.

According to Jinshi reports, MicroStrategy's stock price continues to rise, with an increase of 20%.

According to CoinDesk, based on limited historical trading activity and on-chain supply, the BTC price may further consolidate or retest lower ranges. Since the drop over the weekend, the price of Bitcoin has been confined between $70,000 and $79,999 for five consecutive days. Bitcoin has spent a total of about 35 days within this $10,000 price range, making it one of the shortest durations, indicating that the price tends to move quickly through this area rather than establishing sustained support or resistance.The price is more likely to consolidate within this range or move down again before establishing a more solid foundation. In April of last year, Bitcoin rebounded after spending only a few weeks below $80,000. Similarly, when it reached a high near $73,000 in March 2024, it spent a short time at that level before starting to decline. A notable example occurred in November 2024, when the price surged from about $68,000 to $100,000 within weeks, with almost no consolidation in the $70,000 to $80,000 range.MicroStrategy (MSTR), the largest corporate holder of Bitcoin, made only one purchase within this price range. On November 11, 2024, the company acquired 27,200 BTC for approximately $2 billion, at an average price of $74,463. Data shows that there is a supply gap between $70,000 and $80,000, indicating that this area remains structurally weak.

Norway's largest pension fund KLP has increased its holdings in the company MicroStrategy (MSTR), which holds Bitcoin as a reserve asset, to 95,160 shares, with a holding value of $13.5 million.

According to on-chain analyst Yu Jin's monitoring, the current cost and profit and loss status of several institutions are as follows:MicroStrategy: The current BTC price has fallen near MicroStrategy's cost line: it holds 712,600 BTC, with an average cost of $76,037. The floating profit has basically been wiped out, and if it drops another $3,000, it will officially be "stuck."Tom Lee's Bitmine: Holds 4.243 million ETH, with an average cost of $3,849. Bitmine has been "stuck," but as ETH has now reached $2.4K, the floating loss has hit a new high of $5.92 billion. The loss has exceeded one-third (-36%).Yi Lihua's Trend Research: Holds 651,500 ETH, with an average cost of about $3,180, currently facing a floating loss of $475 million. Because they added leverage, these ETH positions have a liquidation price around $1,880, which is about $570 away from the current price.

The price of Bitcoin briefly fell below the Strategy holding cost of approximately $76,037, marking the first time since October 2023 that Bitcoin has dropped below this key cost level.

According to SoSoValue data, last week the total net purchase of Bitcoin by global listed companies (excluding mining companies) was $1.25 billion. Strategy (formerly MicroStrategy) announced an investment of $1.25 billion to increase its holdings by 13,627 Bitcoins at a price of $91,519, bringing its total holdings to 687,410 Bitcoins.The Japanese listed company Metaplanet did not purchase any Bitcoin last week. As of the time of writing, the total amount of Bitcoin held by the listed companies worldwide (excluding mining companies) is 937,310 Bitcoins, with a current market value of approximately $85.02 billion, accounting for 4.7% of the circulating market value of Bitcoin.

10x Research stated, "Due to forced liquidations, stalled progress in cryptocurrency legislation, a weakening effect from corporate buying, and global policy uncertainty dampening risk appetite, Bitcoin prices have fallen sharply. The overall weakness in U.S. stocks is influenced by the underperformance of the AI sector and soft labor data; however, the easing effect from falling inflation and strong earnings from semiconductor companies have somewhat mitigated the decline. Driven by rising demand for safe-haven assets and increased inflows from global asset diversification, gold prices have risen, approaching historical highs. MicroStrategy's stock performance has been weak, as concerns over equity dilution from equity financing to purchase Bitcoin have outweighed the benefits of continued accumulation."

Bitcoin Treasuries.NET posted on platform X that the National Pension Service (NPS) of South Korea, with assets totaling $1 trillion, has increased its holdings in the publicly traded company MicroStrategy (MSTR) to $93 million.

Liquid Capital (formerly LD Capital) founder Yi Lihua stated that Wall Street has a continuous and strong capital advantage, with "an endless supply of bullets" giving it a very high win rate in the future, and believes it will ultimately achieve a "big win." He compared the current stage of BMNR to the painful transformation process that MicroStrategy once experienced, considering it part of the growth cycle.Yi Lihua pointed out that based on the belief of "seeing is believing," a new model distinct from traditional treasury management will emerge in the future capital markets, allowing crypto assets to achieve broader success through the capital markets.

According to 4E observations, market sentiment suddenly turned cold on December 1, with Bitcoin briefly dropping to $83,786, a nearly 30% decline from the early October peak. The core trigger came from a sharp rise in expectations for a rate hike by the Bank of Japan: traders priced in a 76% chance of a rate hike in December, and nearly 90% for January next year. After Ueda Kazuo signaled "preemptive tightening," Japan's two-year government bond yield rose to a 16-year high, and funds began to rapidly adjust for a potential policy shift. The rate hike expectations have backfired on global risk assets, with yen carry trades seen as a potential systemic risk point—markets still remember the turmoil caused by the yen's sharp rise in August this year, which triggered a global chain sell-off.Another heavy blow came from MicroStrategy (MSTR). The company announced a cash reserve of $1.44 billion and for the first time acknowledged the possibility of selling Bitcoin under certain conditions, shaking its core narrative of "never selling." The stock plummeted by 12% at one point. Although it still increased its holdings by 130 BTC last week, the pressure from debt combined with market turbulence has made sentiment more sensitive.On the macro front, the probability of a 25bp rate cut by the Federal Reserve in December rose to 87.6%, and QT will officially end today. Over the past two years, QT has withdrawn more than $2 trillion in liquidity, and stopping the balance sheet reduction is seen as a key event for the current liquidity bottom, which may help ease short-term market panic.4E Commentary: The expectations of a rate hike in Japan and MSTR's "selling" hint have triggered a rapid repricing of sentiment, compounded by declining trading volumes and the looming risk of yen carry trades, leaving the short-term market in a fragile range. The end of QT by the Federal Reserve is one of the few positive signals, which will determine whether risk assets can enter a "policy buffer period." A restoration of risk appetite will need to wait for the implementation of Japanese policies and a stabilization signal from BTC to resonate.