Michael Saylor's Strategy Back To Buying Bitcoin After 1-Week Pause? BTC Bull Says 'No More Bears'
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Michael Saylor, Executive Chairman of Strategy Inc. (NASDAQ:MSTR), reaffirmed on Sunday his long-standing support of Bitcoin (CRYPTO: BTC) and announced the company will resume adding BTC to its treasury.
Saylor’s Message To ‘₿ears’
Saylor posted on X an AI-generated video of himself carrying a bear through a forest while smoking a cigar, captioned “No More ₿ears.”
Note that the post was metaphorical, referencing bearish traders betting on Bitcoin’s downturn.
Strategy Back To Buying Bitcoin?
Saylor signaled that Strategy’s BTC purchases would resume this week, adding a post captioned “Back to work.”
Notably, Strategy paused its weekly acquisition before releasing its first-quarter financials last week. He had said, "No buys this week. Back to work next week."
As of today, Strategy holds 818,334 BTC, worth $66.43 billion and representing roughly 3.9% of Bitcoin’s total supply.
Strategy reported losses of $38.25 per share in the first quarter, while revenue beat the analyst consensus estimate at $124.3 million.
Spotlight on Strategy’s Preferred Stock Offering
Meanwhile, cryptocurrency analyst Willy Woo asked Grok and Gemini to evaluate risks and fair compensation for Strategy’s Perpetual Stretch Preferred Stock (NASDAQ:STRC).
Both AI chatbots flagged STRC as a high-risk instrument, viewing its current 11% dividend payout as underpriced.
Interestingly, Saylor and Strategy have promoted STRC as a high-yield, lower-volatility instrument. That said, its 30-day Sharpe ratio stood at 2.51 as of this writing, higher than Nvidia Corp. (NASDAQ:NVDA) and Tesla Inc. (NASDAQ:TSLA), according to data from PortfoliosLab.
Strategy didn't immediately return Benzinga's request for comment
Price Action: At the time of writing, BTC was exchanging hands at $81,527.17, up 1.14% in the last 24 hours, according to data from Benzinga Pro.
Strategy shares closed 4.31% higher at $187.59 during Friday’s regular trading session. Year-to-date, the stock has rallied 23%.
Benzinga’s Edge Stock Rankings indicate long-term weakness, while short- and medium-term trends remain positive.
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