Strategy Inc. (NASDAQ:MSTR) Chair Michael Saylor said on Thursday that Bitcoin (CRYPTO: BTC) purchases don’t lead to immediate price increases and there’s always a “delay.”
Another Call To HODL?
In what looked like a cheeky reminder on X, Saylor pointed out the lag between big companies buying Bitcoin and the moment it finally “goes to the moon.”
It appeared to be yet another call from Saylor encouraging HODLers to stay firm despite the market situation.
Responses poured in, with some sharing memes about Saylor’s odd past advocacies, while others praised his conviction.
What Numbers Says For MSTR
Strategy revealed it acquired 17,994 BTC for $1.28 billion at an average price of $70,946 last week, marking its 102nd Bitcoin purchase and the 11th consecutive week of accumulation.
This, despite the company sitting on unrealized losses of $3.35 billion on its BTC holdings. Moreover, Strategy’s market valuation stands at $47 billion, while its Bitcoin holdings are valued at $52.65 billion. This means that the stock is trading at a discount to its net asset value.
Saylor has previously defended Strategy’s business model, asserting that it can withstand Bitcoin’s fluctuations and continue to provide value to shareholders. He stated that as long as Bitcoin increases by 1.25% annually, Strategy can maintain its dividend payments indefinitely and boost shareholder value.
Price Action: At the time of writing, BTC was trading at $71,605.76, up 2.95% over the last 24 hours, according to data from Benzinga Pro.
Strategy shares gained 0.25% in after-hours trading after closing 0.72% lower at $137.34 during Thursday’s regular trading session.
The stock exhibited weak price momentum across the short-, medium-, and long-term, earning a very low Momentum score in Benzinga’s Edge Stock Rankings.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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