Bitcoin Price May Go Under $70K Despite Strategy’s Latest Big...
STRC’s slide below its $100 par value may force Strategy to pause Bitcoin buying this week, increasing the risk of a BTC drop below $70,000.
STRC’s slide below its $100 par value may force Strategy to pause Bitcoin buying this week, increasing the risk of a BTC drop below $70,000.
Strategy acquired 34,164 Bitcoin for $2.54 billion between April 13 and 19, increasing holdings to 815,061 BTC with most funding from STRC stock sales.
Michael Saylor has hinted that Strategy is on the cusp of announcing another Bitcoin purchase, days after a measure to pay semi-monthly dividends was floated to shareholders.
Strategy bought 13,927 Bitcoin for $1 billion in between April 6 and 12, funded through STRC at-the-market share sales.
The co-founder of Strategy, the biggest Bitcoin treasury company in the world, signaled that the company is about to buy more of the digital currency on Monday.
Bitcoin may invalidate its bear flag setup as Strategy buys 46,233 BTC in just over a month, outpacing the 16,200 BTC supply in the same period.
Although Strategy still reported holding more than $51 billion in Bitcoin as of Sunday, the company’s move to not purchase more last week has some raising eyebrows.
Retail investors are the biggest buyers of Strategy's "Stretch" perpetual preferred shares, suggesting there's still significant interest from non-institutions in Bitcoin exposure.
Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin buys, which will rely more on sales through MSTR, STRC and STRK than external funding.
Strategy bought 1,031 Bitcoin for $76.6 million using MSTR stock sales, lifting holdings to 762,099 BTC as March purchases exceeded 41,000 Bitcoin.
Strategy’s Michael Saylor has hinted on X that the company bought more Bitcoin, even as its existing stash fell in market value when Bitcoin dropped another 3.8% over the weekend.
Technical charts suggest Bitcoin bulls must hold BTC price above $70,000 to avoid a pattern confirmation to new lows under $60,000. Will altcoins also hold up?
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