Samson Mo, a prominent Bitcoin advocate and industry CEO, said: predicted Whale Strategy’s average purchase price will now serve as a permanent price floor for Bitcoin.
Mow believes that the days of acquiring Bitcoin below the strategy’s historical cost threshold are officially over.
BSTR catalyst
Moe pointed to Adam Back’s upcoming SPAC (special purpose acquisition company) process for BSTR.
Moh predicted in February that once BSTR completed its exit-SPAC transaction, the newly formed public company would immediately move to acquire 15,000 to 20,000 shares. $BTC.
Now, Mo is looking to double down on the price impact of its impending acquisition.
“I’m going to call you right now,” Moe posted. “If $BSTR de-SPACs, you won’t be able to buy Bitcoin:Native for less than the average price of $MSTR.”
take back the floor
If Mo’s prediction is true, what will be the new floor price for Bitcoin?
The strategy’s average purchase price is now $75,577 per Bitcoin, according to a new Form 8-K filed with the Securities and Exchange Commission.
The company solidified this average just a few days ago with yet another major acquisition.
Earlier this week, Strategy announced it had acquired an additional 13,927 companies. $BTC Approximately $1 billion in transactions took place in the past week.
Although Strategy Inc. funded its recent multibillion-dollar acquisitions entirely through its at-the-market (ATM) public offering program, SEC filings reveal that the giant company has done little to reduce its available capacity. The company currently has approximately $50 billion in remaining purchasing power, split between $21 billion available in the STRC stock program and $27 billion available in the Class A common stock (MSTR) program.
