Financial Insights That Matter
Business intelligence firm Strategy did not purchase any Bitcoin between Feb. 24 and March 2.
The company continues to hold more than 499,000 coins, acquired for roughly $33.1 billion.
Strategy’s average purchasing price currently stands at more than $66,000.
On Feb. 24, the company announced that it had acquired nearly $2 billion worth of Bitcoin, which was the company’s very first Bitcoin purchase since its major rebranding.
On Feb. 28, the price of the leading cryptocurrency collapsed all the way to the $78,000 level.
Related
The rapid Bitcoin price drop caused the Stratety (MSTR) stock to decline to as low as $240.
American entrepreneur and angel investor Jason Calacanis claims that Strategy cofounder Michael Saylor was “saved” by the recent strategic cryptocurrency reserve announcement. As reported by U.Today, Bitcoin and Ethereum will be at the heart of the reserve, but they will also include other tokens like XRP.
MSTR shares are currently up by more than 11% over the past 24 hours. However, it is still down nearly 18% over the past month.
Related
It is worth noting that the company’s premium to net asset value (NAV) is now back to levels that were last seen in April 2024.
As reported by U.Today, Strategy’s Saylor opined that Bitcoin was “the foundation” of the crypto economy in response to the reserve announcement.
Saylor has been one of the strongest proponents of a Bitcoin-only reserve. The prominent maximalist previously advocated for ditching Bitcoin in favor of gold.
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.