Bitcoin Poland

🟠 On 8 June, Strategy bought 1,550 bitcoin near $65,300. Its first purchase ever made below its own average cost.

A week earlier it had sold 32 coins to cover a dividend, quietly breaking the „never sell” line it was built on. So this buy was meant to read as conviction restored.

The market barely moved 📊

And that is the part worth reading closely. MSTR now trades at roughly 0.7x the value of the bitcoin it holds. When a company sits below its own treasury, every share it issues to buy more bitcoin dilutes existing holders instead of rewarding them.

The $181m raise behind this purchase is, at today’s discount, dilution rather than accretion.

⚙️ The accumulation flywheel only turns at a premium. Right now there isn’t one.

The signal isn’t the buy. It’s the discount.