Michael Saylor’s Strategy Halts Bitcoin Purchases Amid Market Anticipation
- Strategy did not acquire any Bitcoin between December 15 and December 21.
- The company holds a total of 671,268 BTC, valued at $50.33 billion with an average purchase price of $74,972 per Bitcoin.
- Strategy’s USD reserves have increased to $2.19 billion after selling over 4.5 million MSTR shares for $748 million.
- Despite halting purchases, MSTR stock rose over 3% to approximately $170 in premarket trading.
- The company previously established a USD reserve of $1.44 billion to mitigate sell-off concerns regarding its Bitcoin holdings.
The decision to pause Bitcoin purchases comes as the crypto market anticipates a Santa rally, with BTC recently reaching $90,000. The increase in USD reserves allows the company to avoid liquidating its Bitcoin assets for operational needs.
Last week, Strategy’s stock performance improved despite no new Bitcoin acquisitions, reflecting investor confidence amid market fluctuations.(Source)
