Strategy actions (MSTR) fell 30% since its executive president and former CEO, Michael Saylor, was presented on the cover of Forbes, according to data from Yahoo Finance’s action.
Between January 30 and March 10, strategy actions increased from $ 340.09 to $ 238.25. The fall includes a decrease of 17% on March 10 in the middle of the larger sale on the technological stock market.
One -day action course strategy. Source: Yahoo Finance
According to Yahoo Finance, the Nasdaq Composite, to which the strategy belongs, fell by more than 4% on March 10. The renewed fears of a recession, the Atlanta Fed projecting negative growth in gross domestic product, have triggered the fear of the first quarter of investors on the equity market. The index of fear and greed of CNN is at “16” for the day, which means “extreme fear”.
Despite a drop in action, the strategy remains unshakable in its commitment to a Bitcoin strategy (BTC). The company announced the same day that an additional $ 21 billion is planning to remove “general business purposes, including the acquisition of Bitcoin and for the working fund”. On February 24, the strategy bought 20,356 Bitcoin for nearly $ 2 billion.
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Although Bitcoin has recorded the strongest weekly decrease in the history of assets on March 10, the investment of Bitcoin of Strategment is still profitable by 18.9%. The company bought its BTC for an average cost of $ 66,423, well below the price of the asset at this time of writing.
While countless entrepreneurs have honored the cover of Forbes over the years, some features have also fallen into controversy after the spotlight. One of them includes the former CEO of the FTX, Sam Bankman Fried, who was sentenced to 25 years in prison for a multitude of financial crimes.
The strategy stretches the debate, the copycates generates
Strategy’s decision to acquire more bitcoin by issuing actions and using debt has been welcomed with its just part of supporters and criticisms in cryptographic space. Some people believe that it is a stroke of genius, a bet on the history of the digital assets which made it pass from nothing to a market capitalization of 1.56 billion of dollars in 15 years.
Others have not been so nice, comparing the company to a time bomb or a ponzi. In November 2024, the cryptographic investor Hedgex.eth called him the latter, writing on X that Saylor “will do more damage to Bitcoin than anyone using an endless lever effect”. Haralabos Voulgaris wrote on X that “at one point, the next” unexpected “implosion of BTC will probably be linked to MSTR”.
However, the decision of the strategy has caused copies in the business world, some companies buying Bitcoin for their treasury bills and seeing a wave of investors’ enthusiasm. One of these companies is Metaplanet, whose share price increased by 4,800% in 12 months after announcing its BTC purchasing strategy.
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