Key Takeaways
MicroStrategy’s latest move sparked mixed reactions and a dip in its stock. Still, the firm remains the largest corporate Bitcoin holder, with $74.2B in holdings.
Strategy (formerly MicroStrategy) co-founder Michael Saylor has hinted at yet another Bitcoin [BTC] purchase, even as the world’s largest cryptocurrency trades just under its newly set record of $124,000.
The move comes on the heels of the firm’s latest acquisition earlier this week, when it added 155 BTC worth $18 million to its already massive reserves.
With holdings now totaling 628,946 BTC, valued at more than $74.2 billion, the company sits on an unrealized profit of over $28 billion, according to data from SaylorTracker.
On X (formerly Twitter), Saylor simply said,
“Insufficient Orange.”
Source: Michael Saylor/X
‘Buy the dip’ plan
The timing of Strategy’s latest purchase coincided with Bitcoin slipping to $115,042.40, marking a 2.83% decline in the past 24 hours and a 4.45% drop over the week, according to CoinMarketCap.
This underscores the company’s consistent “buy the dip” approach, a strategy where investors accumulate assets during market pullbacks, anticipating a rebound.
While this tactic demonstrates strong conviction in Bitcoin’s long-term growth, it carries inherent risks, as short-term declines can deepen into prolonged downturns.
Yet, since initiating its Bitcoin acquisition strategy in 2020, Strategy’s bet on the cryptocurrency has fueled a remarkable 2,600% increase in its stock price over five years.
Strategy’s dominance
With 628,946 BTC in its reserves, the company has established itself as the single largest corporate holder of Bitcoin, surpassing the combined holdings of the next ten publicly listed firms, per BitcoinTreasuries.net.
Despite this dominance, Strategy’s MSTR stock faced pressure alongside Bitcoin’s decline, slipping 1.78% to $366.32, Google Finance showed.
Some users appreciated Saylor’s optimism.
Source: Giovanni Incasa/X
Others, however, rejected the idea altogether.
Source: Against Wall Street/X
However, despite mixed community reactions and a declining stock price, Saylor has remained steadfast in his approach, as he had earlier said,
“Stay Humble. Stack Sats.”