MicroStrategy IncorporatedCEO Phong Le confirmed the $60k sell/$80k buyback was right and the company holds 845,050 BTC with zero net debt, but no new company-specific development.
Bitcoin traded around $77,000 on Wednesday morning, down slightly 0.13% in 24 hours. Meanwhile, U.S. spot Bitcoin ETFs saw net outflows of $236.46 million on Tuesday, reversing from August's cumulative inflows of over $3.5 billion. The market has increased the probability of a Fed rate hike at the September 15-16 meeting to 70.2%, up from 41.43% the previous week, after Fed Chair Kevin Warsh signaled he does not believe inflation is truly slowing. WTI oil prices rose to $90.78 per barrel, and the 10-year U.S. Treasury yield hit its highest level since January 2025, pressuring risk assets. The Fear and Greed Index remains in the Greed zone at 61-70, and long positions on Binance account for 56.3% of all accounts. Meanwhile, Remixpoint, a Japanese company, sold all its Ethereum, Solana, XRP, and Dogecoin on September 1, raising a total of 878.8 million yen (approximately $5.5 million) with a profit of 117.8 million yen (approximately $737,000). It still holds about 1,506 Bitcoins, worth $115.3 million. Phong Le, CEO of Strategy, confirmed that selling Bitcoin at $60,000 before buying back at $80,000 was the right decision. The company holds a total of 845,050 Bitcoins, with a market value of around $65 billion, and has zero net debt.
MicroStrategy IncorporatedCEO Phong Le confirmed the $60k sell/$80k buyback was right and the company holds 845,050 BTC with zero net debt, but no new company-specific development.
Rising Fed rate-hike expectations and inflation concerns pushed the 10-year Treasury yield to its highest since January 2025.