MicroStrategy Ends Bitcoin Purchase Streak After Dozen Weeks
MicroStrategy is expected to address the types of issuances it plans to use during its call with analysts after reporting earnings on Wednesday.
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MicroStrategy Inc. said it didn’t buy any Bitcoin in the prior week, halting a string of 12 consecutive weekly purchases that began in late October.
The purchases had coincided with a record-breaking rally in the digital currency that had been driven in part by Donald Trump’s embrace of digital assets and the subsequent industry-friendly agenda in the first weeks of his second presidential administration. MicroStrategy bought more than $20 billion in Bitcoin during the period, increasing its overall holdings to around $44.7 billion, or more than 2% of all the tokens that will ever be minted.