Michael Saylor’s Strategy has further expanded its Bitcoin holdings, acquiring 130 BTC for $10.7 million at an average price of $82,981 per Bitcoin. This latest purchase, made between March 10 and March 16, brings the firm’s total BTC reserves to 499,226 BTC, valued at over $41.6 billion.
The acquisition was funded through the sale of 123,000 shares of the company’s 8.00% Series A perpetual strike preferred stock (STRK), raising the necessary capital without affecting its Class A common stock structure.
The latest SEC filing confirms that Strategy continues to prioritize Bitcoin accumulation through strategic financial maneuvers, reinforcing its position as one of the largest corporate Bitcoin holders. Michael Saylor remains steadfast in his advocacy for Bitcoin as a long-term store of value, although critics like Peter Schiff argue that gold will ultimately outperform BTC. Schiff has pointed to Bitcoin’s recent struggles against gold as an indicator of its volatility and questioned its ability to preserve wealth over time.
Bitcoin’s price has experienced notable fluctuations, recently dropping below $80,000 before rebounding. As of now, BTC is trading 0.5% higher on the daily chart and has gained 1.1% over the past week, though it remains down 15% in the past month. Analysts attribute the volatility to macroeconomic factors such as global trade concerns and potential Federal Reserve interest rate adjustments. Meanwhile, large BTC holders are reportedly countering short positions, contributing to market uncertainty and increased speculation about insider influence.
Strategy’s stock price has mirrored Bitcoin’s movements, closing at around $297 last Friday, reflecting a 13% increase. Over the past year, the stock has surged more than 100%, aligning with Bitcoin’s overall bullish trajectory. However, pre-market trading showed a slight dip, with investors closely watching Bitcoin’s price trends for further market cues. Schiff has also warned that if the Nasdaq experiences a significant downturn, Bitcoin could plunge to $20,000 due to its historical correlation with tech stocks.
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