Why Strategy bought another $2 billion in Bitcoin despite a slumping crypto market
Bitcoin is dipping, but that only seems to make Strategy buy more of it. The largest digital asset treasury purchased more than $2 billion worth of Bitcoin this week, CEO Michael Saylor revealed on X. The move came as a surprise to many crypto observers, but one analyst says it fit a long time pattern on the part of Saylor and his company.
For those unfamiliar, Strategy is a type of company known as a digital asset treasury that holds cryptocurrency as its primary business model. That hasn’t worked out too well for the company of late, as Bitcoin has sunk nearly 17% in the past year and 10% in the last week. Its most recent tailspin follows macroeconomic tensions between the U.S. and Europe, which caused crypto, and the stock…
