Recently, the news that MicroStrategy has paused its Bitcoin purchases has stirred quite a ripple in the cryptocurrency market. This decision has garnered significant attention, particularly regarding whether they will sell stocks next.
As the world’s largest holder of Bitcoin, MicroStrategy's "hoarding" scale is quite astonishing. Currently, they hold 471,000 Bitcoins, which accounts for approximately 2.26% of the global Bitcoin supply, with a total investment amount reaching as high as $30.4 billion. Looking back over the past 12 weeks, MicroStrategy has entered a frenzied "buy, buy, buy" mode, investing over $20.2 billion to increase its Bitcoin holdings.
However, market conditions have changed dramatically, and MicroStrategy's aggressive buying strategy has temporarily hit the "pause button." The company's CEO, Michael Saylor, publicly stated on social media last week that they are neither buying Bitcoin nor selling stocks at present. This statement stands in stark contrast to their previous active accumulation, sparking numerous market speculations.
As a result, market expectations have also changed significantly. On the prediction market Polymarket, the probability of MicroStrategy holding 500,000 Bitcoins has dropped to 51%, a significant decrease of 28% from before. Although Saylor remains confident about Bitcoin's long-term development prospects, recent actions suggest that MicroStrategy is likely to adopt a more cautious investment strategy in the short term.
Every move MicroStrategy makes in the Bitcoin market affects the nerves of market participants. As an important barometer of the industry, its strategic shift is undoubtedly worthy of close attention, as it is likely to create a chain reaction in market sentiment.
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