MicroStrategy, the largest corporate holder of Bitcoin (BTC), has paused its aggressive purchasing streak after 12 consecutive weeks of accumulation.
Bitcoin (BTC) price crashed over $15,000 from Friday to Monday, sharply reversing its recent bullish trajectory. The downturn also coincides with MicroStrategy pausing its Bitcoin acquisitions, leaving market participants wondering about the company’s future buying strategy.
As the largest corporate holder of BTC, MicroStrategy has been making headlines with its aggressive purchasing streak. However, last week, the company hit the brakes on its Bitcoin buying spree, which began in early November 2024.
To date, MicroStrategy has acquired 471,107 BTC at an average price of $64,511. The company’s BTC holdings now constitute approximately 2% of the total Bitcoin supply, which is valued at around $44.7 billion.
Moreover, MicroStrategy’s aggressive Bitcoin strategy has positioned it as a dominant player in the institutional adoption of cryptocurrencies. Now, as the company pauses its BTC purchases, all eyes will be on MicroStrategy’s upcoming earnings call for clarity on its future buying plans and financing mechanisms.
Bitcoin Price Crash Slows Down MicroStrategy’s BTC Buying Spree was last modified: March 13th, 2023 by Sam Grant
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