MicroStrategy Confirms Continued Bitcoin Purchases Amid Rumors of Sales
MicroStrategy chief Michael Saylor has confirmed that the company is continuing and accelerating its bitcoin purchasing strategy, with new purchases to be reported on Monday morning. This announcement comes amid rumors that the firm was selling Bitcoin, fueled by on-chain wallet movements. Saylor publicly denied these rumors in a post on X.
Despite these assurances, MSTR stock fell about 4% in early trading on Friday, trading under $200 and down roughly 35% year to date. The strategy currently holds more than 641,000 BTC, valued at about $22.5 billion, while the company's market capitalization has fallen below that value.
The market-to-net-asset value (mNAV) ratio is below 1, indicating a potential undervaluation relative to its Bitcoin holdings. In this context, a sale to stabilize the firm has been suggested as a possibility. At the time of the report, Bitcoin was trading around $96,200 following a period of volatility. Saylor noted that Bitcoin previously traded in a $55,000–$65,000 range about a year ago and suggested it could rally from current levels.
