Despite Bitcoin's drop, Strategy keeps up its huge buys
Strategy hit a fresh mark in its Bitcoin buying plan. Michael Saylor's firm picked up 8,178 BTC for $835 million. This move speeds up its spending a lot. It happens during wild price swings. Bitcoin lost 11% over seven days.
A bold guy grabs Bitcoin in a market plunge. Flames, fear, and shaky charts surround him.
Strategy snapped up 8,178 BTC for $835 million. That's a big jump from the 400-500 BTC each week before.
This buy lifts the firm's stash to 649,870 BTC. It strengthens their spot as top in big Bitcoin holdings worldwide.
The deal hits as BTC hovers near $90,000. It shed 11% in a week. MSTR shares dropped 16% in five days.
Michael Saylor ignores the knocks. He stands firm on his Bitcoin trust. Detractors like Peter Schiff hit back hard.
Strategy ramps up Bitcoin buys with 8,178 BTC grab
Strategy sent a filing to the U.S. Securities and Exchange Commission on Monday. It confirms the 8,178 Bitcoin purchase. This shifts their buying approach in a big way.
From October into early November, Michael Saylor stuck to smaller buys. He got 400 to 500 BTC weekly. Monday's deal times that by twenty.
This fast pace sparks talk. The moment feels risky. Bitcoin faces a quick dip. The top crypto lost about 11% in seven days. It dipped under $92,000. Still, Saylor pushes on. To him, falls mean chances to buy. Not red flags.
MSTR stock felt the heat too. Over five days, it slid more than 16%. It hit $197.03. Markets look jittery. Some watchers doubt if Strategy's setup can last.
Last week, sale talk buzzed on social media. Saylor shut it down quick.
Strategy now owns 649,870 BTC. That's way more than rivals. BitMine Immersion Technologies eyes Ether. Forward Industries picks Solana. None match Strategy's Bitcoin focus.
Michael Saylor always shows his Bitcoin belief. In fresh CNBC chats and social posts, he said they keep buying through ups and downs.
"Big swings fit a high-risk item," he noted. His point? Bitcoin beats out others over years.
This view draws fans and foes. Peter Schiff, a gold backer and Bitcoin foe, called out Saylor last weekend. He pushes for a debate at Binance Blockchain Week in Dubai this December. Schiff labels Strategy's plan "a total scam." Saylor has not hit back yet.
The numbers back Saylor's way. Amid the shakes, the firm's boss stays calm. He says even an 80% stock crash won't force a sell-off of holdings.
This safety comes from smart money setup. Preferred shares fund the buys. They skip watering down old owners' stakes. It keeps the base strong.
Big players shift fast. Banks like JP Morgan and Wells Fargo test Bitcoin loans. Strategy got a B- grade from S&P. First for a Bitcoin-heavy firm. These steps back Saylor's idea. Bitcoin turns normal for all.
Strategy locks in its lead in Bitcoin use by big firms. The 8,178 BTC buy during a dip shows deep trust. It bucks quick market turns. Weeks ahead will show if this guts pays or if doubters win. One fact stands: Michael Saylor won't quit.