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Strategy Buys 1,550 Bitcoin, Expands Holdings to 845,256 BTC
The company funded the buy with $181 million in stock sales and lifted cash reserves to $1 billion, according to its filing.
- On Monday, Strategy disclosed in a Securities and Exchange Commission filing that it purchased 1,550 BTC for $101.3 million last week, bringing its total holdings to 845,256 BTC.
- This purchase marks a resumption following a controversial sale of 32 BTC last Monday, the firm's first since December 2022, which sparked trader warnings of a potential "doom loop."
- The company funded the acquisition through $181 million in stock sales as bitcoin fell under $60,000 for the first time since October 2024, amplifying bearish market sentiment.
- Bitcoin's value recovered to $63,926 early Monday from a recent low of $59,159 on Friday, while Bernstein analysts reiterated an "Outperform" rating for the stock.
- CryptoQuant CEO Ki Young Ju defended the firm on Friday, arguing bitcoin would have fallen to $22,000 without Strategy's purchases, though broader pessimism persists due to waning ETFs demand.
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The calm seems to return to the cryptocurrency market, at least for now.Strategy, the technology firm led by Michael Saylor, has announced the resumption of its purchases of the digital currency.The movement takes place just a week after an unusual and mysterious sale of tokens by the company sparked panic among investors.According to a regulatory statement presented on Monday, the company has acquired 1,550 Bitcoins for $101.3 million.This forc…
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Total News Sources21
Leaning Left0Leaning Right2Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
C 60%
R 40%
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