Bitcoin (BTC) Acquisition Continuing at Strategy (MSTR), Says Michael Saylor

Michael Saylor, Executive Chairman of Strategy (MSTR), has asserted that the company remains committed to its strategy of acquiring Bitcoin, despite circulating rumors suggesting otherwise. In a recent CNBC appearance, Saylor emphasized that they are actively buying Bitcoin and mentioned reporting their latest purchases soon. This statement was made against the backdrop of MSTR's stock price declining nearly 35% year-to-date and concerns over the company potentially selling some Bitcoin holdings to stabilize itself. Amid speculation fueled by on-chain data showing Bitcoin exiting company-controlled wallets, Saylor firmly denied any truth to these rumors. He advised investors to look at Bitcoin's price history, noting that despite current market turbulence, the cryptocurrency has shown significant returns compared to previous levels. Currently, Strategy holds over 641,000 BTC valued at around $22.5 billion while facing a market cap lower than this value, leading to discussions about the stock's undervaluation.

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