Michael Saylor’s Latest Bitcoin Buy Is 10x Smaller After $2.5B Spending Spree
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Shares of Michael Saylor-backed Strategy (MSTR) edged higher in early morning trade on Monday after the company announced it had bought 3,273 Bitcoin (BTC) for around $255 million over the past week.
This weekly purchase is 10x smaller than last week, when Strategy spent $2.5 Billion to buy over 34,000 BTC.MSTR’s stock moved 0.65% higher in pre-market trade. On Stocktwits, retail sentiment around the company trended in ‘bullish’ territory, accompanied by ‘high’ levels of chatter.
According to its latest filing with the Securities and Exchange Commission (SEC), the company now holds a total of 818,334 Bitcoin, acquired at an average cost of $75,537, keeping its unrealized gains in the green.
Bitcoin’s price edged 0.3% lower in the last 24 hours to around $77,800. Retail sentiment around the apex cryptocurrency also trended in ‘bullish’ territory over the past day, but chatter remained at ‘normal’ levels.
The move comes after executive chairman Michael Saylor posted “The Beat Goes On” on X over the weekend, with his signature “orange dots” charts, hinting that another Bitcoin purchase announcement was on the cards for Monday.
source: https://www.tradingview.com/news/stocktwits:207417c44094b:0/
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