Strategy, formerly known as MicroStrategy, has purchased 4,020 BTC worth $427 million, increasing its total Bitcoin holdings to 226,331 BTC for a combined cost of $8.33 billion.
Despite the Bitcoin acquisition news, Strategy's stock (MSTR) fell by 7% on the day of the announcement due to concerns about exposure risk, profit-taking, and broader market sentiment.
Strategy's aggressive accumulation of Bitcoin signals strong institutional conviction in the cryptocurrency, contrasting with the cautious stance of many other corporates.
With Strategy's significant BTC purchase, totaling over 226,000 BTC, the firm's Bitcoin-first approach is viewed as a bullish signal for long-term adoption by the Bitcoin community.