cointelegraph.com
Michael Saylor, executive chair of Strategy, denied reports that the company was offloading some of its Bitcoin amid a flash crash in the cryptocurrency’s price.
In a Friday X post, Saylor said that there was “no truth” to a report claiming that Strategy reduced its overall Bitcoin ($BTC) holdings by about 47,000 $BTC, or $4.6 billion at the time of publication. Saylor said the company was continuing to buy Bitcoin as the price dropped by more than 4% in less than 24 hours, from more than $100,000 to less than $95,000.
“I think the volatility comes with the territory,” said Saylor in a Friday CNBC interview. “If you’re going to be a Bitcoin investor, you need a four-year time horizon and you need to be prepared to handle the volatility in this market.”
Although Strategy remains the company with the largest Bitcoin treasury — about 640,000 $BTC — it has seen its dominance decline as others enter the market. Cryptocurrency exchanges like Coinbase and Metaplanet, a $BTC treasury company, outpurchased Strategy on Bitcoin in October.
Related: Bitcoin ETFs bleed $866M in second-worst day on record, but some analysts still bullish
The share price of Strategy’s MSTR stock on Nasdaq has also declined. The exchange showed the price had fallen to $205.38 at the time of publication — a drop of more than 17% in the previous five days.
The US government shutdown ended, but no significant $BTC surge?
Although the end of a 43-day US government shutdown this week resulted in a short-term rally for many stocks, the long-term impact on Bitcoin, if any, remains to be seen.
The price surged to more than $106,000 on Sunday amid growing optimism that US lawmakers would soon reach a funding deal. $BTC similarly surged on Wednesday following the House of Representatives passing a continuing resolution to fund the government and US President Donald Trump signing the bill into law.
However, according to data from Nansen, when the government reopened on Thursday, the $BTC price dropped below $100,000.
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