Strategy buys 21 BTC after 14% drop in shares
- Strategy shares fall as investors seek put options
- Company buys 21.021 BTC with $2,5 billion
- Strategy claims to resist even with Bitcoin at US$20
A Strategy (MSTR) , recognized as the world's largest corporate holder of Bitcoin, has seen its shares plunge 14% in value over the past two weeks. The decline has pushed the stock below its 50-day moving average, a crucial technical indicator for institutional investors.
The decline sparked a significant movement in the options market. Market Chameleon data shows that demand for puts—contracts that protect against declines—increased implied volatility asymmetry to 3,6% , the highest level since April. The increase in the premium paid for protection reflects traders' more cautious sentiment regarding the short term.
Despite the pressure, Strategy surprised with a substantial acquisition: the purchase of 21.021 Bitcoins for approximately $117.256 each, totaling $2,5 billion. The amount was raised through the sale of 28 million STRC preferred shares at $90, marking the largest public offering of 2025 in the US. With the transaction, the company increased its portfolio to 628.791 BTC, valued at over $74,7 billion.
In response to questions about the sustainability of leverage, Chaitanya Jain, the firm's Bitcoin strategy manager, stated: "$BTC could drop to $20 and $MSTR would still have enough collateral to cover all liabilities. Model it yourself."
$ BTC could crash to $20K and $ MSTR would still have sufficient collateral to cover all liabilities. Model it yourself: https://t.co/zhcSXg0asr pic.twitter.com/fgvabYZORz
The company's strategy is based on Bitcoin-backed debt instruments—such as STRK, STRF, and STRD—and prioritizes long-term resilience. Even in the face of volatility, the company maintains its BTC-centric vision for the future.
Jain also highlighted that “finance people are becoming Bitcoiners,” signaling a growing adoption of cryptocurrency-based strategies by traditional finance.
While traders speculate on further declines in Strategy's shares, the company maintains its conviction and increases its exposure to Bitcoin, reinforcing its position as one of the sector's leading institutional players.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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