A week ago, a tiny Bitcoin (BTC) sale by Strategy (NASDAQ: MSTR) had investors bracing for a change of heart.
This week, the company went right back to buying
One analyst says that’s exactly the point. TD Cowen’s Lance Vitanza believes Strategy’s latest Bitcoin purchase confirms that its recent sales were tactical, not a retreat from its long-term accumulation plan. Why the analyst isn’t worried about that sale Last week, Strategy disclosed that it had sold 32 BTC, its first sale in years.
But the market read it as a warning sign. Vitanza doesn’t buy that. He called the sale economically insignificant and likely tied to taxes, describing the company, still the world’s largest corporate Bitcoin holder, as a “disciplined net accumulator.” The new purchase, he said, simply shows Strategy doing what it always does, which is raising money by selling shares and pouring it into more Bitcoin.