Strategy’s $2.46B Bitcoin buy brings total holdings to 628K BTC!
Main Idea
Strategy (formerly MicroStrategy) made a $2.46 billion Bitcoin purchase, increasing its holdings to 628K BTC, but the move has sparked mixed reactions in the crypto community.
Key Points
1. Strategy acquired 21,021 BTC at an average price of $117,256, marking its second-largest purchase in 2025.
2. The purchase was funded by a $2.52 billion share sale, exceeding the initial $500 million target.
3. Investors favored BlackRock’s IBIT over MSTR for BTC exposure, as the MSTR/IBIT ratio broke a key trendline.
4. MSTR’s modified net asset value (mNAV) has been declining since peaking at 3.89x in November, raising concerns about its capital-raising strategy.
5. Despite the skepticism, MSTR’s BTC holdings ($74 billion at market prices) position it as a significant player with strong financial strength.
Description
Investors appeared to favor BackRock's IBIT over MSTR for BTC exposure.
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