MicroStrategy last week raised about $181 million in net funds by selling common stock through a “at-the-market” (ATM) mechanism. It bought 1,550 BTC, spending $101.3 million at an average purchase cost of $65,332. It also left a small amount, adding $100 million to its cash reserves, bringing its cash reserves to $1 billion. This shows that first, it kept cash; second, it doesn’t dare to sell more for fear of an even bigger sell-off wave; third, there are still fools out there giving it money.