MicroStrategy buys $561 million more Bitcoin, now holding $27.7 billion worth, causing skepticism

From Investing.com

December 23, 2024 1:00:19 pm:

MicroStrategy purchased 5,262 BTC for $561 million, holding 444,262 BTC worth $27.7 billion. Despite 47.4% returns this quarter, skepticism grows about their strategy. To sustain purchases, they raise capital through bonds, credit lines, and share sales. A significant Bitcoin price or MSTR stock decline could trigger a cascade effect. This could impact the broader cryptocurrency market as they now hold 2.2% of global Bitcoin supply. Michael Saylor’s bold approach is seen as both cementing cryptocurrency’s role and unsustainable, with past history showing a cautionary tale of a MSTR stock collapse that took 24 years to recover from.

Read more at Investing.com: MicroStrategy Buys $561 Million More Bitcoin (BTC), Announces Saylor By U.Today