Strategy just bought Bitcoin worth $2bn despite a 60% drawdown in share prices

Buying billions in Bitcoin isn’t enough to shore up your company’s share prices anymore. Strategy, the world’s largest corporate holder of Bitcoin and pioneer of the now-beleaguered treasury trade, announced on Tuesday it bought 22,305 Bitcoin worth more than $2.1 billion for its treasury. That brings its total holdings to 709,715 Bitcoin, worth nearly $70 billion. But what constitutes the company’s fifth largest Bitcoin purchase still wasn’t enough to trigger its stock to surge. Quite the opposite, in ...