The Currency analytics
By Jean-Luc Maracon
Strategy has made another bold move. Michael Saylor's company purchased $168.4 million worth of bitcoin last week, increasing its total holdings to 717,131 BTC.
The acquisition of an additional 2,486 BTC places Strategy among the world's largest bitcoin holders. The total cost of its position now stands at $54.
Michael Saylor confirmed the purchase on Tuesday in an official statement. For him, bitcoin remains a long-term store of value, period.
MSTR shares fell 3.2% in pre-market trading on Tuesday. Over a year, it's down 60%. Ouch. Last Friday, they had climbed more than 10%, but the volatility remains huge.
On February 15, during a conference call, Saylor said, "We see this as a unique opportunity to strengthen our position in a leading digital asset.
Last Monday, shares hit a low of $250 before slightly rebounding to $265. The volatility surrounding Strategy reflects the general uncertainty of the crypto market.
And bitcoin reacted. The price briefly rose to $69,500 on February 16 following Strategy's purchase announcement. The company's influence on price movements is undeniable.
The next general shareholders' meeting scheduled for March 22 will be crucial. Investors are awaiting clarifications on the company's strategic direction.
A Bloomberg report from February 19 highlights the reaction of other tech companies to Strategy's moves.
On February 20, in a CNBC interview, Saylor insisted, "Bitcoin is the future of global finance.
Other tech giants are closely watching Strategy's moves. Tesla, which holds about 9,720 BTC since its $1.5 billion investment in 2021, maintains a more cautious approach.
U.S. regulators are scrutinizing these corporate strategies more closely. The SEC is examining how public companies communicate about their cryptocurrency investments.