Mr.Abrash
07/14 01:29
Michael Saylor signals Bitcoin buy after one-week
Michael Saylor signals Bitcoin buy after one-week hiatus
Strategy continues to lead the pack among Bitcoin treasury companies, issuing debt and equity instruments to finance more purchases.
Strategy co-founder Michael Saylor signaled that Strategy would resume Bitcoin
buying on Monday after the company took a week-long hiatus from accumulating the digital asset.“Some weeks, you don’t just HODL,” the executive wrote on Sunday. The company skipped buying BTC last week but announced a $4.2 billion capital raise. Before the break, Strategy racked up 12 consecutive weeks of BTC accumulation.
Strategy’s most recent BTC buy occurred on June 30, when the company bought 4,980 BTC for $532 million, bringing its total holdings to 597,325 BTC, valued at over $70.9 billion.
Shares of the company are trading hands at about $434 and are up over 16% this month, but still trail the all-time high of $543 per share hit in November 2024.
Bitcoin treasury companies are now major players in the Bitcoin market, scooping up BTC at a faster rate than it is mined. This demand could cause a supply shock and drive prices higher, though some analysts warn that debt-fueled institutional BTC buying is unsustainable and could trigger a systemic market downturns.
Strategy continues to lead the pack among Bitcoin treasury companies, issuing debt and equity instruments to finance more purchases.
Strategy co-founder Michael Saylor signaled that Strategy would resume Bitcoin
buying on Monday after the company took a week-long hiatus from accumulating the digital asset.“Some weeks, you don’t just HODL,” the executive wrote on Sunday. The company skipped buying BTC last week but announced a $4.2 billion capital raise. Before the break, Strategy racked up 12 consecutive weeks of BTC accumulation.
Strategy’s most recent BTC buy occurred on June 30, when the company bought 4,980 BTC for $532 million, bringing its total holdings to 597,325 BTC, valued at over $70.9 billion.
Shares of the company are trading hands at about $434 and are up over 16% this month, but still trail the all-time high of $543 per share hit in November 2024.
Bitcoin treasury companies are now major players in the Bitcoin market, scooping up BTC at a faster rate than it is mined. This demand could cause a supply shock and drive prices higher, though some analysts warn that debt-fueled institutional BTC buying is unsustainable and could trigger a systemic market downturns.
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