Bitcoin Updates: Amid Bitcoin’s Plunge, Saylor’s Company Amasses $835M, Bucking the Market Sell-Off
- Michael Saylor's Strategy Inc. bought 8,178 BTC ($835.6M) despite Bitcoin's 25% drop, boosting holdings to 649,870 BTC ($61.7B). - The purchase, funded by perpetual preferred stock sales, reflects confidence in Bitcoin's long-term value despite market selloffs and ETF outflows. - Saylor's firm maintains a conservative leverage ratio (8B debt vs. 61B BTC) and claims resilience against multi-year price collapses. - Institutional Bitcoin adoption persists as Harvard allocates $443M to crypto ETFs, though St
Michael Saylor's Bitcoin-Focused Company
Michael Saylor’s enterprise, Strategy Inc. (previously MicroStrategy), has reiterated its dedication to
This acquisition comes during a broader market downturn, as Bitcoin ETFs have seen notable outflows. On November 13, U.S. spot Bitcoin ETFs recorded $866.7 million in net withdrawals—their second-largest single-day outflow since launching in January 2024.
Despite these conditions, Strategy’s approach remains focused on long-term Bitcoin accumulation. The latest purchases were made under its “42/42” capital plan, which aims to raise $84 billion in equity and convertible notes by 2027. This includes $21 billion through ATM programs for its STRK perpetual preferred shares and other financial instruments.
The company’s financial strength is further demonstrated by its market net asset value (mNAV) ratio, which
Institutional faith in Bitcoin’s prospects is also apparent elsewhere in the market.
Despite ongoing turbulence, Saylor remains optimistic, arguing that Bitcoin’s limited supply and increasing institutional interest will support its long-term value. “The fundamentals are strong,” he stated, reiterating his belief that shareholders could endure a 90% price decline over four to five years
As the crypto sector faces ongoing macroeconomic headwinds, Strategy’s bold accumulation and Saylor’s steadfast belief act as a gauge for institutional Bitcoin adoption. Whether this approach proves robust or susceptible to further declines will hinge on Bitcoin’s price movement and the broader risk appetite in financial markets.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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