Michael Saylor's Strategy Makes Smallest Bitcoin Buy in 10 Weeks
Summary
Strategy, formerly MicroStrategy, purchased $75 million in Bitcoin, increasing its total holdings to approximately 581,000 Bitcoin valued at $60.4 billion. The acquisition was funded by a $74 million sale of preferred stock. This purchase is the smallest since mid-March. Strategy's stock price fell 0.34% to around $367.75, despite being up 26% year-to-date. Bitcoin's price is around $104,000, down 0.2% in 24 hours, following a peak of $111,000 last month. At a recent Bitcoin conference, co-founder Michael Saylor emphasized Bitcoin's accessibility for wealth preservation, encouraging individuals to trade fiat currency and other assets for Bitcoin. Other firms also showed interest in leveraging corporate debt for Bitcoin purchases.
