Strategy announces bitcoin monetization program to fund dollar reserves and stock buybacks
By
Tomi Kilgore
5d ago· 2 min readenNews
Summary
Strategy (formerly MicroStrategy, ticker MSTR) announced a bitcoin monetization program that could involve selling its bitcoin holdings to build U.S. dollar reserves and fund stock repurchases. This marks a significant departure from the "HODL" principle long embraced by cryptocurrency investors. The company sold over $1 billion in common stock in the past week but did not purchase any additional bitcoin.
Source
bskyStrategy announces bitcoin monetization program to fund dollar reserves and stock buybacksmarketwatch.comKey quotes
· 1 pulledIn an apparent farewell to the 'HODL' principle that had guided cryptocurrency investors, Strategy disclosed on Monday a bitcoin monetization program that could include selling the cryptocurrency to build up its U.S. dollar reserves, as well as fund repurchases of common stock.
Strategy sold more than $1 billion in common stock but didn’t buy any bitcoin in the past week
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