Strategy (formerly MicroStrategy) made the largest Bitcoin purchase since November 2024. This happened just a day before Bitcoin's price fell below the $90,000 mark.
Despite the company's consistent commitment to an aggressive accumulation strategy, Strategy's shares fell by more than 7%.
The largest Bitcoin purchase by Strategy since 2024
On Tuesday, Strategy announced the purchase of 22,305 Bitcoins for approximately $2.13 billion. The total Bitcoin holdings of the company reached 709,715 BTC.
The transaction conducted on Monday was the largest Bitcoin purchase by Strategy since November 2024. Previously, in January, the company made two more purchases, confirming its ongoing commitment to expand its Bitcoin treasury.
Despite the scale of the recent purchase, the market reaction remained limited. Similar to the transaction announced the previous Monday, this move did not strengthen investor confidence in Strategy's long-term prospects.
In the last 24 hours, the company's shares fell by 7.39%. During this time, MSTR was trading at 160.87 USD.
The company's approach to Bitcoin purchase moments also draws criticism.
According to the Monday announcement, Strategy paid an average of 95,284 USD for one Bitcoin. However, on the same day Bitcoin cost around 92,500 USD and has now fallen below 90,000 USD.
This moment highlighted a recurring pattern in which Strategy does not take advantage of short-term price drops.
In December, BeInCrypto reported that the company spent nearly 1 billion USD to purchase 10,624 BTC. Although Bitcoin fell to around 86,000 USD at that time, Strategy made the purchase only after the price returned to 90,615 USD.
Such an approach constantly raises questions about the company's entry point and readiness to buy Bitcoin at high price levels instead of during market downturns.
This has done little to reassure shareholders regarding the overall capital allocation strategy.
Despite a slight rebound in the last month, Bitcoin has not regained the 100,000 USD level. Meanwhile, analyses are increasing that signal a potential bear market, raising uncertainty regarding the short-term price outlook for this asset.
Against this backdrop, Strategy continues to execute its accumulation plan.
Although this approach is meant to demonstrate faith in Bitcoin's long-term potential, it has done little to alleviate short-term investor concerns.
To check out the latest cryptocurrency market analysis from BeInCrypto, click here.
