Strategy Drops Nearly $1 Billion on Bitcoin, Marking Largest BTC Buy in Months

Core Insights - The company made its largest Bitcoin purchase in over 100 days, spending approximately $963 million on 10,624 BTC, primarily funded through issuing common stock [1] - The total Bitcoin holdings of the company now amount to roughly 660,600 BTC, valued at around $60 billion based on current market prices [1] - This recent acquisition is significantly larger than previous purchases, equating to the total Bitcoin-buying activity since mid-September when Bitcoin was priced around $115,000 [2] Stock Performance - The company's shares remained stable at $180, despite a 50% decline over the past six months, with a recent 7.5% increase in the last five trading days as Bitcoin's price approached $90,000 [3] Analyst Sentiment - Analysts from Cantor Fitzgerald noted a shift in the company's Bitcoin purchasing strategy, which has caused some investor concern, although they deemed these fears unfounded [4] - Despite the negative sentiment regarding potential exclusion from MSCI indices, analysts highlighted the company's creation of a $1.4 billion cash reserve as a prudent move, allowing for more dividend payments [5] - Cantor Fitzgerald analysts recently lowered their price target for the company by 59%, while maintaining a long-term bullish outlook on Bitcoin [5][7] Recent Financial Activities - The last significant Bitcoin purchase occurred after the company announced a $2.5 billion closing of STRC, marking it as the largest crypto-linked equity raise of the year [6] - In addition to common stock issuance, the company also offered $44 million worth of STRD, which features a 10% annual, non-cumulative cash dividend [6]