After hinting at buying more bitcoin on Sunday, Strategy’s co-founder and former CEO, Michael Saylor, announced on X minutes ago that the firm had acquired another 520 BTC for $35 million. Thus, its total holdings have grown to 847,363 units, currently valued at almost $55 billion.
What’s more interesting about this announcement is the fact that the NASDAQ-listed business intelligence software company increased its USD reserve a lot more than the BTC acquisition.
The Saylor-founded firm made two major bitcoin purchases in the past couple of weeks, both for around $100 million. It also increased its USD reserve by the same amount.
Now, though, the difference is quite significant, as the firm has spent almost 10 times more for its USD reserve than for its bitcoin acquisition.
Perhaps the reason for this is the growing online scrutiny of Strategy’s STRC. Also referred to as Stretch, these shares are supposed to trade at $100, provide a stable yield to investors, and raise funds to buy more BTC.
However, they have deviated from their par price in the past few weeks, going well below $90 at one point. This raised some eyebrows in the community, with some analysts speculating that the company might have to sell more than 50,000 BTC in the next few years to cover expenses and dividend payments.
Source: CryptoPotato
