Strategy Reaffirms 'Buy Bitcoin Forever' Stance as MSTR Surges
Strategy Inc., the largest Bitcoin holder in the world, is reaffirming its commitment to accumulating more of the cryptocurrency. CEO Phong Le stated that Strategy will continue to buy Bitcoin indefinitely, with no plans to sell. This 'buy Bitcoin forever strategy' has seen the company's holdings grow to 840,050 BTC.
According to Le, this stance is not a rigid one. While Strategy will remain committed to buying and holding Bitcoin, it may occasionally sell small amounts when it makes sense in terms of overall financial performance. This flexibility is necessary as traditional finance becomes increasingly involved with Bitcoin custody, requiring companies like Strategy to adapt their investment strategies.
Strategy's stock has seen significant trading activity, often surpassing that of Berkshire Hathaway. The company's shares have regularly traded over 40 million units in a single session, with turnover reaching $4.4 billion on some days.
The price of MSTR broke above its descending trendline from the May high, climbing to $147.37. This breakout is accompanied by a strong reading on the RSI divergence indicator at 63.56 and a clear crossing of the 20-day EMA at $128.49.