Michael Saylor’s Strategy Halts Bitcoin Purchases Again
- Michael Saylor’s firm currently holds 845,050 BTC, acquired for $63.73 billion at an average price of $75,412.
- The firm paused its weekly Bitcoin buys after purchasing 4,603 BTC just two weeks ago.
- In addition to halting Bitcoin purchases, the company bought back over 1.8 million STRC shares worth over $176 million last week.
- The Digital Credit Securities Repurchase Program has been increased from $1 billion to $2 billion as the firm aims to drive STRC stock back to its par value of $100.
- STRC stock is currently trading at approximately $97, having rebounded more than 5% in the past month.
The recent pause in Bitcoin purchases comes after a brief resumption, reflecting ongoing strategic adjustments by Saylor’s firm amid market fluctuations. The increase in the repurchase program indicates a focus on stabilizing STRC stock value as it approaches critical thresholds.
With no new BTC transactions last week and a total holding of 845,050 BTC, Saylor’s strategy continues to evolve while actively managing its stock buybacks.(Source)
