How Microstrategy Invested $425 MM in Bitcoin Without Moving Its Price (short audio clip from Michael Saylor’s appearance on The Pomp Podcast)
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How Microstrategy Invested $425 MM in Bitcoin Without Moving Its Price (short audio clip from Michael Saylor’s appearance on The Pomp Podcast)
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The idea that they “didn’t move the price” is kind of nonsense. They simply offset a large seller, which was lucky. 38,000 coins is always a very significant amount, no matter what bitcoin’s price is, or how liquid it is. This is the equivalent of buying 340 tons of gold. I guarantee you that would move gold’s price too.
I heard on the Domain Sherpa podcast that they traded for hours to get the best price and not move the price up so much which is basically a short term dollar cost average strategy.