MicroStrategy A.K.A Strategy announces re-branding, buying 7633 BTC for $742.4 million. What Are They Planning?

Michael Saylor’s Strategy came into the news today for an exceptional purchase of Bitcoin worth $742.2 million. A recent marketing drive was followed by this big purchase. It is also a prime signal to investors and customers about the course strength of the brand. The steadfast purchase signals that Strategy will now be in this trade for a long time.  

Not just a purchase  

MicroStrategy, a.k.a., Strategy, is continuing its drive to become the biggest Bitcoin holder in the world. However, Strategy made no valuable purchases in the last 1 year. After that, a major purchase came in today.  

Saylor said in an interview that “Strategy now has an additional 7633 BTC.” It also means- the current Bitcoin acquisition volume of Strategy is 478740 BTC at roughly $65000 per coin.  

The company was going through a face of introspective speculation. Sources revealed that Strategy was facing a tax competency challenge. Excess unrealized gains gaslighted tax payment lapses. At one point, the company owed billions in taxes.  

Other sources argue that Strategy was not excited about buying Bitcoin. Bitcoin, for the last year, has not shown any noticeable growth. Moreover, there have been exceptional lows like $71000, $89000, etc.  

Finally, the wait is over  

No more anticipations. Strategy made an open purchase today. To finance the purchase, Strategy sold crucial stocks in the market. A significant section of this stock is now held by BLACKROCK.  

However, this major Bitcoin holding speaks volumes. It reviews that long-term investors still keep Bitcoin at the forefront. It also shows that institutional investors prioritize Bitcoin in the same way.  

If Strategy keeps buying Bitcoin, other firms will follow. Today, the purchase was exceptional. However, the purchases in the future might not be as big. It may be a move to flaunt the rebranding strength. The market will be keenly observing Strategy’s next move.