Bitcoin News
By Jean-Luc Maracon
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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.
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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.
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Michael Saylor confirmed the purchase on Tuesday in an official statement. For him, bitcoin remains a long-term store of value, period.
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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.
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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.
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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.
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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.
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The next general shareholders' meeting scheduled for March 22 will be crucial. Investors are awaiting clarifications on the company's strategic direction.
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A Bloomberg report from February 19 highlights the reaction of other tech companies to Strategy's moves.
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On February 20, in a CNBC interview, Saylor insisted, "Bitcoin is the future of global finance.
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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.
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U.S. regulators are scrutinizing these corporate strategies more closely. The SEC is examining how public companies communicate about their cryptocurrency investments.
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