{
  "run": "008-microstrategy-bitcoin",
  "as_of": "2026-07-13",
  "source": "Strategy (MicroStrategy) 8-K disclosures via bitbo.io; BTC-USD via yfinance",
  "n_buys": 107,
  "n_sells": 2,
  "n_events_matched": 107,
  "date_range": [
    "2020-08",
    "2026-07"
  ],
  "median_buy_usd": 215832000,
  "max_buy_usd": 5400150000,
  "total_btc_bought": 834475,
  "baseline_daily_return": 0.12,
  "baseline_daily_sd": 3.0,
  "events": {
    "announcement_day": {
      "mean": 0.31,
      "baseline": 0.12,
      "t": 0.63,
      "p": 0.5301796284733435
    },
    "next_day": {
      "mean": 0.05,
      "baseline": 0.12,
      "t": -0.25,
      "p": 0.8016145231615531
    },
    "window_m1_p2": {
      "mean": 0.83,
      "baseline": 0.48,
      "t": 0.77,
      "p": 0.4455656090334609
    }
  },
  "price_impact": {
    "slope_per_decade": -0.289,
    "slope_ci95": [
      -1.09,
      0.51
    ],
    "r2": 0.0049,
    "p": 0.4757454365207724,
    "n": 107,
    "resid_sd": 3.17
  },
  "biggest_buys": [
    {
      "date": "2024-11-25",
      "usd_b": 5.4,
      "d0": -5.01
    },
    {
      "date": "2024-11-18",
      "usd_b": 4.8,
      "d0": 0.78
    },
    {
      "date": "2026-04-20",
      "usd_b": 2.5,
      "d0": 2.73
    },
    {
      "date": "2025-07-29",
      "usd_b": 2.5,
      "d0": -0.0
    },
    {
      "date": "2026-01-20",
      "usd_b": 2.1,
      "d0": -4.58
    },
    {
      "date": "2024-12-09",
      "usd_b": 2.1,
      "d0": -3.76
    }
  ]
}