Michael Saylor's MSTR Appears Break Six-Week BTC Buy Streak
MicroStrategy seemingly paused its weekly Bitcoin accumulation streak last week, ending six consecutive weeks of purchases.Summary
MicroStrategy (MSTR), the largest publicly traded company holding Bitcoin, appeared to halt its weekly Bitcoin purchases last week, breaking a six-week buying streak that began on October 6th. Executive Chairman Michael Saylor, who typically announces these purchases on X, did not post any updates this week. This pause occurs while MSTR's stock valuation is near cycle lows, trading about 70% below its all-time high, with its multiple to net asset value (mNAV) near 1. Furthermore, the company is facing market speculation regarding potential exclusion from major equity indexes. Despite this, MSTR shares saw a slight rise early Monday, mirroring a small increase in Bitcoin's price over the weekend to around $86,200. The firm currently holds 649,870 BTC with an average cost basis of $74,433 per coin.
(Source：CoinDesk)