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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34 Articles
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