Michael Saylor's Strategy Is Now Underwater on Bitcoin. Is The Dam Breaking Open?

Michael Saylor, the outspoken Bitcoin (BTCUSD) advocate and executive chairman of Strategy (MSTR) (formerly known as MicroStrategy), kicked off his aggressive accumulation strategy in 2020 when BTC hovered around $11,000. Undeterred by volatility, he ramped up purchases through bull and bear markets, amassing holdings even as the cryptocurrency was soaring to a peak above $126,000 last October. Today, Strategy owns 712,647 Bitcoin with an average purchase price of $76,037. But overnight, Bitcoin plunged ...