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

Strategy announced its largest Bitcoin purchase in over four months, investing $835 million as Bitcoin's price fell. The company now holds nearly 650,000 Bitcoin, valued around $61 billion. Despite this, Strategy's shares fell 1.5%, reflecting a 31% decline over the past month as Bitcoin's price retreated from all-time highs. The firm introduced euro-denominated preferred shares to boost its Bitcoin buying capabilities, generating approximately $700 million in proceeds. Concerns over dilution have impacted investor confidence, contributing to the drop in share price. However, co-founder Michael Saylor stated that the company is actively buying Bitcoin and plans to sustain its acquisition strategy despite price fluctuations. The broader crypto market is experiencing downturns, with Bitcoin trading recently around $94,000. Analysts suggest that fears surrounding Strategy’s potential liquidation of Bitcoin to meet obligations may be overstated, given its manageable debt structure.

Source 🔗