Strategy Shares Dip Despite $835 Million Bitcoin Purchase—Its Largest in 4 Months

Strategy announced its largest Bitcoin purchase in over four months, spending $835 million. The firm now possesses nearly 650,000 Bitcoin, valued at approximately $61 billion, even as Bitcoin's price has fallen by 11% recently. Despite this substantial acquisition, Strategy's shares dropped 1.5%, reflecting a 31% decline over the past month as fears of dilution and market dynamics weigh on investor sentiment. The purchase coincided with the launch of euro-denominated preferred shares to support further Bitcoin acquisitions. Michael Saylor, Strategy's executive chairman, emphasized the company's commitment to buying Bitcoin daily, despite distractions and market pressures. Analysts have mixed views on the sustainability of the firm's business model, pointing to a manageable dividend burden and a delayed maturity for issued bonds. The current market downturn has led to significant liquidations, but despite investor skepticism regarding the company's stock performance, some analysts foresee potential resilience in Strategy's approach to Bitcoin investment.

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