Michael Saylor’s strategy will buy another $1.05 billion in Bitcoin
strategy (MSTR), the largest corporate holder of Bitcoin, Submit On Monday, he delegated the Securities and Exchange Commission to purchase another $1.05 billion worth of Bitcoin.
Strategic stock, small software company becomes the crypto giant who chairs crypto giant Michael Saylor, rising 1.4%, before falling 0.4% in early trading on Monday, but the broader S&P 500 (^gspc) 1% increase.
The strategy said it had acquired 10,100 Bitcoins from June 9th to June 15th. At the time of the latest submission, the company is It spent almost $42 billion Since first purchasing cryptocurrency on August 10, 2020, I have purchased over 592,000 Bitcoin.
In that time frame, inventory rose by about 3,000% compared to the 78% gain on the S&P 500.
Saylor calls investors during the company’s May 1 revenues “plans to buy and hold BTC indefinitely.”
“We intend to promote the global adoption of BTC as a Treasury reserve asset,” he said.
Other companies have I started to adopt that strategyAdd Bitcoin to your balance sheet, using a combination of debt and stocks to replicate the success of your strategy’s stock price.
But that doesn’t always happen. GameStop (GME), for example, it fell 10% shortly after it was announced. $500 million purchase Bitcoin’s. Trump Media (DJT)) I lost over 10% After the announcement, it had raised $2.5 billion to create the Bitcoin Treasury Department. Bitcoin volatility also means that small businesses will risk bankruptcy if the value of cryptocurrency suddenly drops.
In the case of strategy, Saylor argued that stock volatility is good for investors. “What we did was create a volatility engine, and when we set it on fire and grow it, it becomes a furnace.
Options traders can collect expensive premiums on volatile stocks.
“Of course, what we’re doing is creating a crypto nuclear reactor that can run for a long time,” he added.
Laura Bratton is a reporter for Yahoo Finance. Follow her at Bluesky @laurabratton.bsky.social. Email her to laura.bratton@yahooinc.com.
Read the latest financial and business news from Yahoo Finance