Strategy Apparently Paused Bitcoin Accumulation Last Week
Strategy (MSTR), the largest publicly traded company holding bitcoin BTC$86,361.56, did not appear to have added to its bitcoin position last week.
Executive Chairman Michael Saylor typically takes to X to preview buys each Sunday and then tweets out the details by around 8 am ET on Monday morning. There w were no such tweets this week.ere no such tweets this week.
This ends a six week run of weekly purchases dating back to Oct. 6.
The Tysons Corner, Virginia based firm holds 649,870 bitcoin with an average cost basis of $74,433 per coin according to the Strategy dashboard.
The pause comes as MSTR trades roughly 70% below its all time high, with its multiple to net asset value (mNAV) sitting just above 1, the lowest level of the current cycle.
The company is also contending with market chatter about potential exclusion from major equity indexes, a threat serious enough to draw the ire of Saylor last week.
Shares are up 1.5% early Monday alongside a small rise in the price of bitcoin over the weekend to the current $86,200.