4,277 BTC bought, is 10K next? How STRC is fueling MSTR’s Bitcoin moves!
Despite a 10% stock decline for MicroStrategy (MSTR) following Bitcoin's recent correction, the week was marked by significant bullish momentum. This optimism is primarily driven by the performance of its perpetual fund index, Stretch (STRC), which broke above the critical $100 level. This breakout is crucial as the yield generated from STRC shares is funneled directly into Bitcoin purchases.
This dynamic is reinforced by strong institutional ownership, with Vanguard being the largest shareholder. Furthermore, STRC raised its dividend, boosting investor confidence. The strong trading volume in STRC this week has already enabled MicroStrategy to acquire 4,277 BTC. Projections now suggest this figure could reach 8,000 BTC by Monday, highlighting the firm's unwavering commitment to its Bitcoin accumulation strategy despite broader market uncertainty.
ambcrypto03/07 11:02