“What's Behind Crypto's Stall as MSTR Resumes Bitcoin Purchases”
Market reaction to MSTR's recent capital allocation actions was positive (stock +2%), despite a significant long-term decline (-60%).
Well, MicroStrategy resumed its Bitcoin purchases last week after a hiatus of nearly 10 weeks. Yes, I think this was a very good thing overall. Their CEO came out and defended the fact that they had previously sold Bitcoin, a few months or weeks ago, at lower levels when they bought it back last week.
But he did so by saying that he does not expect any future sales before what he described as a very strong bull market . So, they must have some optimism for the future.