MicroStrategy incurs $100 million loss in Bitcoin buyback

MicroStrategy spent $445.4 million to repurchase 5,553 BTC after selling them earlier this year for $345.1 million. The company sold the coins between May and August at an average price of $62,150 and repurchased them at an average of $80,207, resulting in an opportunity cost exceeding $100 million. Despite claims that the sales were intended to signal market strategy, the repurchases were funded by issuing new stock, which diluted existing shareholders.