Michael Saylor's strategy sells Bitcoin
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The company recently unveiled a framework outlining multiple reasons it may sell some of its cryptocurrency holdings.
Strategy, the largest corporate crypto hoarder, sold $216 million of Bitcoin last week – a sign that it is abandoning co-founder Michael Saylor’s “Never sell your Bitcoin” mantra as a slumping digital asset market hits its own shares.
Strategy disclosed a program to sell bitcoin “from time to time” to fund its U.S. dollar reserve and share repurchases.
Citi Research maintains a Buy rating on Strategy stock while slashing its price target to $136 from $260.
These companies each get a lot of attention, but for completely different reasons.
The moves are aimed at stemming the loss of confidence in Michael Saylor’s crypto-hoarding company.
Bloomberg reports Microsoft is shifting Xbox's strategy away from its long-standing subscription-first vision, with renewed focus on hardware, consoles, and first-party exclusives.
Strategy (formerly MicroStrategy) has used various financial engineering techniques to raise capital to buy Bitcoin. It has been famously said that the plan is to buy Bitcoin and never sell it, with the theory that it will help through a time of ...
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