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Big Bull Michael Saylor Turned the Tables This Week! Bitcoin (BTC) Purchases Stopped But a New Move Worth 4.2 Billion Dollars Was Announced!
The largest institutional Bitcoin bull Strategy ( formerly known as MicroStrategy) did not act in line with expectations this week.
At this point, the Strategy that regularly buys Bitcoin every Monday has paused its Bitcoin purchases for the first time since April.
In the official statement, it was stated that the total current asset of Strategy remained at 597.325 BTC (65 billion dollars).
No Bitcoin Purchase!
Strategy announced in a submission to the U.S. Securities and Exchange Commission (SEC) ( that it halted Bitcoin )BTC( purchases between June 30 and July 6.
The company continues to hold 597,325 BTC valued at 65 billion dollars with an average purchase price of 70,982 dollars per BTC.
This marks the first decline in Bitcoin purchases since April.
Co-founder of Strategy, Michael Saylor, "Sometimes you just need to HODL for a few weeks." said.
Following this halt in Bitcoin purchases, Strategy released its Q2 results on Monday, announcing an unrealized gain of $14.05 billion in digital assets and a deferred tax expense of $4.04 billion.
4.2 Billion Dollar New Move!
Strategy has announced a new move of 4.2 billion dollars, even though Bitcoin purchases have been paused.
Accordingly, Strategy announced the launch of a $4.2 billion market offer program for the 10% Continuous STRD Preferred Stock )ATM(.
The company plans to gradually and systematically sell STRD shares based on market price and trading volume. The revenues will be used for various purposes, including the purchase of Bitcoin.