When BTC fell below $90K and the market was in despair, Bitcoin whale MicroStrategy splurged $980.3 million to buy 10,645 BTC! What did this "eternal bull" see?

The latest data is shocking: from December 8 to 14, MicroStrategy purchased 10,645 BTC at an average price of $92,124 each, marking its second consecutive week of investing nearly $1 billion. The funding source was the sale of $888.2M in company stock, demonstrating its firm BTC-based strategy. As of December 14, the company's total holdings reached an astonishing 671,268 BTC, with a total cost of $50.33B and an average cost price of only $74,972 each.

Compared to the current price of $85,828, MicroStrategy has an unrealized gain of about 14.5%, with paper profits exceeding $7 billion. More critically, founder Michael Saylor's tweet about this purchase garnered 3.7 million views and 18,484 likes, indicating a surge in social media activity.

Three signals in-depth interpretation:

Signal 1: Valuation anchor. The willingness of institutions to accumulate at the $92K price level means their long-term target price far exceeds this number. Referring to MicroStrategy's previous public statements, their model estimates BTC will reach between $150K and $500K by 2030. The current price is still considered a "discount price" for institutions.

Signal 2: Confidence endorsement. Continuous accumulation instead of waiting for "lower prices" shows that institutions are not concerned about short-term fluctuations. Behind this counterintuitive operation lies a long-term conviction about Bitcoin's scarcity, the global central bank easing cycle, and the accelerating adoption by institutions.

Signal 3: Liquidity prediction. MicroStrategy’s accumulation during market panic may be preparing for an upcoming liquidity improvement. The Federal Reserve may cut interest rates in Q1 2025, China continues to ease, and institutions entering through ETFs will all fuel the next bull market.

Retail investor benchmark: If your BTC cost price is above $74,972, you need to reevaluate your strategy—are you chasing highs or, like Saylor, buying on dips? Data shows that in the past 24 hours, the entire network liquidated $174.2M, with 93% being long positions, indicating that most retail investors are leveraging at high points, while institutions are accumulating spot at low points.

Investment insight: Bottom-fishing in a bear market requires institutional-level patience and capital reserves. Ordinary investors should learn dollar-cost averaging strategies, build positions in batches, avoid chasing highs and high leverage, and use time to gain space.