- Financial markets were historically tumultuous last week.
- Strategy bought more than 3,000 Bitcoin regardless.
- The company’s stock has rebounded alongside the price of Bitcoin.
Strategy, the Bitcoin-scooping firm led by Michael Saylor, has acquired another 3,459 Bitcoins, bringing the company’s total to 531,644.
The company spent $286 million at an average price per token of $82,618, it said in a statement on Monday.
The firm is the largest publicly-traded holder of Bitcoin, and owns more than twice as much as the US government.
Those amounts are overshadowed only by exchange-traded funds like BlackRock’s iShares Bitcoin Trust, which held 570,983 Bitcoins worth about $47 billion Monday.
Last week, Strategy, formerly known as MicroStrategy, was sounding alarm bells over its sensitivity to declines in Bitcoin’s price. The company said it expected to post a net loss in the first quarter of 2025 after the cryptocurrency fell 12% in that span.
Strategy stock buckled under the weight of US President Donald Trump’s global trade war last week, dropping as low as $237 on April 9.
That same day, however, Trump announced a 90-day reprieve on many of the tariffs set to take effect.
MSTR has since rebounded to $311 as of 4pm New York time Monday. Bitcoin, meanwhile, has recovered from a low of around $74,750 on April 9 to $84,800.
“The economic landscape has shifted dramatically from the promise of tax cuts and deregulation in the US to a reality of austerity and trade tensions,” James Butterfill, head of research at research firm CoinShares, told DL News.
Despite that, some analysts are calling for lofty targets on Strategy’s stock over the next year.
Bernstein analysts recently said Strategy stock could hit $600 in the next 12 months.
Andrew Flanagan is a markets correspondent for DL News. Have a tip? Reach out to aflanagan@dlnews.com.
