Strategy continues a shift that would have seemed almost unthinkable not long ago. Last week, the company sold another 1,690 BTC for approximately $108.6 million, at an average price of around $64,262 per Bitcoin.
At the same time, Strategy raised approximately $653 million through sales of MSTR shares. Instead of using all of this capital to buy more Bitcoin, the company is strengthening its cash reserves, which can be used to fund future preferred stock dividends and potential STRC buybacks.
This is an interesting development worth watching. Strategy remains one of the world’s largest corporate holders of Bitcoin, but its financial model is no longer simply about raising capital and accumulating more BTC. Bitcoin itself is increasingly becoming a source of liquidity.
Do you think MicroStrategy shares will continue to fall — and could they drag Bitcoin down with them? What do you think?
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