Strategy Stock ($MSTR) Slides 7% as Aggressive Bitcoin Buying Continues
Strategy stock fell over 7% despite the company surpassing 700,000 BTC holdings through aggressive equity-funded purchases.Summary
Strategy (MSTR) shares dropped more than 7% in early trading even as the company announced it surpassed 700,000 Bitcoin in its treasury, now holding roughly 709,715 BTC. This latest accumulation, disclosed January 20, involved purchasing 22,305 BTC at an average cost of $95,284 per coin, funded by raising about $2.125 billion through equity programs. The stock decline reflects the market's sensitivity to Bitcoin's recent 5% price plunge and concerns over Strategy issuing new shares to fund these acquisitions, leading TD Cowen to cut its price target. Despite the stock volatility, institutional interest remains, with Vanguard disclosing a $505 million investment. CEO Michael Saylor continues to champion the "capital markets-to-Bitcoin" strategy, viewing Bitcoin as the foundation for a new digital credit system.
(Source：Bitcoin Magazine)