On July 15, 10x Research stated that "MicroStrategy's (MSTR) current stock price is above the 7-day and 30-day moving averages, showing a bullish technical trend, with a 11.6% increase over the past week. The company purchased 4,225 BTC for $472.5 million, increasing its total holdings to 601,550 BTC.
This additional purchase was completed through stock issuance financing, further strengthening market confidence in its Bitcoin strategy and driving the stock price up by 3.5%. As a key institutional participant in the Bitcoin field, MicroStrategy is benefiting from the growing institutional demand for Bitcoin, which provides further support for its stock price.
Despite concerns about its highly leveraged Bitcoin position of $71 billion, the market has generally responded positively to its aggressive accumulation strategy."
