Outside Source
Michael Saylor said Strategy didn’t buy any new Bitcoin last week, maintaining its current 478,740 BTC hoard.
Strategy, formerly MicroStrategy, saw zero patronage for its class A common stock offered through its at-the-market equity program between Feb. 10 and Feb. 14, executive chairman Michael Saylor shared on X.com.
The ATM funds Strategy’s Bitcoin (BTC) buying scheme by selling shares to raise capital. Saylor’s firm has invested $31.1 billion in the leading cryptocurrency since 2020. Most of that cash pool was raised from its equity program.
With no new class A stock sold last week, Strategy retained its 478,740 Bitcoin reserve, which was worth over $46 billion while BTC traded under $97,000.
It’s only the second time Strategy has not bought any Bitcoin in about 14 weeks. The first occasion occurred iin early February under similar circumstances when there were no new sales of Strategy shares.
Last week, Saylor said the firm resumed its weekly BTC purchases. Filings with the U.S. Securities and Exchange Commission showed Strategy spent $742 million buying more Bitcoin at the time.
Strategy was the world’s largest publicly traded Bitcoin holder at publishing time, rivaling Wall Street investor cash parked in spot BTC exchange-traded funds. Indeed, only BlackRock’s ETF, with $57 billion in assets, surpassed Strategy’s holdings. Saylor’s firm holds more Bitcoin than funds issued by Fidelity and Grayscale, per SoSoValue data.
This article first appeared at crypto.news
