Analysis: Strategy paused the increase of Bitcoin holdings and increased cash reserves last week, indicating a more cautious approach amid heightened market fluctuations.
On December 23, Strategy paused its Bitcoin purchases last week while increasing its cash reserves to $2.19 billion. The company raised $748 million by selling shares to bolster its dollar reserves established earlier this month to cover dividends and debt-related expenses. This action follows Strategy's recent completion of multiple Bitcoin purchases and comes as the price of Bitcoin has dropped about 30% from the historic high reached in October. Currently, Strategy holds a total of 671,268 BTC, with a market capitalization exceeding $60 billion, and its mNAV is approximately 1.1, indicating that the company has adopted a more cautious strategy amid increased market fluctuations.
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Analysis: Strategy paused the increase of Bitcoin holdings and increased cash reserves last week, indicating a more cautious approach amid heightened market fluctuations.
On December 23, Strategy paused its Bitcoin purchases last week while increasing its cash reserves to $2.19 billion. The company raised $748 million by selling shares to bolster its dollar reserves established earlier this month to cover dividends and debt-related expenses. This action follows Strategy's recent completion of multiple Bitcoin purchases and comes as the price of Bitcoin has dropped about 30% from the historic high reached in October. Currently, Strategy holds a total of 671,268 BTC, with a market capitalization exceeding $60 billion, and its mNAV is approximately 1.1, indicating that the company has adopted a more cautious strategy amid increased market fluctuations.