The firm’s latest accumulation follows a criticized 32 BTC sale that briefly pushed Bitcoin to $61,000 amid market concerns.
Strategy acquired 1,550 Bitcoin, resuming its accumulation strategy after selling 32 BTC last Monday, its first sale since 2022. The move follows heavy criticism from traders who warned of a potential market downturn after the sale triggered a 21% drop in Grayscale Bitcoin’s price, briefly retesting $61,000.
The sale sparked debate over Strategy’s leveraged Bitcoin model, with some analysts arguing it passed its first stress test. CryptoQuant CEO Ki Young Ju countered claims that the firm’s actions harmed Bitcoin, stating prices could have fallen to $22,000 without its purchases. Bernstein analysts reiterated an “Outperform” rating on Strategy, citing its resilient balance sheet and growth through a 50% drawdown.
The firm’s overcollateralized and liquid position was highlighted as a key strength amid market volatility. Analysts maintained a $450 price target on the stock.