Michael Saylor Urges Bitcoin Accumulation Amid Price Volatility
Bitcoin Buy Call and Price Movement
Michael Saylor, chairman of Strategy, has advised the Bitcoin community to accumulate BTC during price dips. His tweet, "Don’t be a fool. Buy Bitcoin," accompanied by an AI-generated image of himself as a jester, underscores the wisdom of timely investments. Bitcoin's price rose 2.4% to $84,350 before a slight dip, but it has since recovered to $84,000.
Significant BTC Purchase by Strategy
Strategy recently acquired 22,048 BTC, valued at $1.92 billion, increasing its total holdings to 528,185 BTC, worth approximately $35.63 billion. This move reinforces the company's commitment to Bitcoin accumulation.
Stock Downgrade by Monness Crespi Hardt
Monness Crespi Hardt downgraded Strategy's stock from "neutral" to "sell," citing weaker-than-expected investor demand for its $700 million perpetual preferred stock offering. The broker views this fundraising method as unsustainable due to market saturation.
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