Strategy Inc., formerly known as MicroStrategy, has made another significant Bitcoin purchase as part of its investment plan. Michael Saylor announced the acquisition of 130 new BTC.
Strategy Inc.'s Bold Bitcoin Investment
The Nasdaq-listed company purchased Bitcoin at an average price of $82,981, spending $10.7 million. To fund this purchase, it sold 123,000 shares of its Series A preferred stock. This brings its total Bitcoin holdings to 499,226 BTC.
Critics Insist Gold is Better
Many, including Peter Schiff, believe gold remains the best long-term store of value, citing recent fluctuations in Bitcoin's price compared to gold. Additionally, some investors warn that Bitcoin could soon be replaced in the market.
Economic Factors Impacting Bitcoin Price
Bitcoin's price changes are linked to global trade concerns and potential U.S. interest rate hikes. Some large holders are trying to leverage market momentum, potentially increasing volatility.
Strategy Inc. continues to increase its Bitcoin investments despite market volatility and criticism. Economic uncertainties and trade issues influence the cryptocurrency's future pricing.
