‘We are buying’: Michael Saylor denies reports of Strategy dumping BTC

Michael Saylor, enforcement seat of Strategy, denied reports that the institution was offloading immoderate of its Bitcoin amid a flash clang successful the cryptocurrency’s price.

In a Friday X post, Saylor said that determination was “no truth” to a study claiming that Strategy reduced its wide Bitcoin (BTC) holdings by astir 47,000 BTC, oregon $4.6 cardinal astatine the clip of publication. Saylor said the institution was continuing to bargain Bitcoin arsenic the terms dropped by much than 4% successful little than 24 hours, from much than $100,000 to little than $95,000.

“I deliberation the volatility comes with the territory,” said Saylor successful a Friday CNBC interview. “If you’re going to beryllium a Bitcoin investor, you request a four-year clip skyline and you request to beryllium prepared to grip the volatility successful this market.”

Source: Michael Saylor

Although Strategy remains the institution with the largest Bitcoin treasury — astir 640,000 BTC — it has seen its dominance diminution arsenic others participate the market. Cryptocurrency exchanges similar Coinbase and Metaplanet, a BTC treasury company, outpurchased Strategy connected Bitcoin successful October. 

Related: Bitcoin ETFs bleed $866M successful second-worst time connected record, but immoderate analysts inactive bullish

The stock terms of Strategy’s MSTR banal connected Nasdaq has besides declined. The speech showed the terms had fallen to $205.38 astatine the clip of work — a driblet of much than 17% successful the erstwhile 5 days.

The US authorities shutdown ended, but nary important BTC surge?

Although the extremity of a 43-day US authorities shutdown this week resulted successful a short-term rally for galore stocks, the semipermanent interaction connected Bitcoin, if any, remains to beryllium seen.

The terms surged to much than $106,000 connected Sunday amid increasing optimism that US lawmakers would soon scope a backing deal. BTC likewise surged connected Wednesday pursuing the House of Representatives passing a continuing solution to money the authorities and US President Donald Trump signing the measure into law.

However, according to data from Nansen, erstwhile the authorities reopened connected Thursday, the BTC terms dropped beneath $100,000.

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