Skip to content Skip to sidebar Skip to footer

Strategy Pauses Bitcoin Buys Amid STRC Offering Extension; Metaplanet Adds 780 BTC

Michael Saylor’s Strategy did not acquire any Bitcoin last
week. This is according to a filing with the US Securities and Exchange
Commission. Meanwhile, Japanese investment company Metaplanet announced
it acquired 780 Bitcoin. This brings its total holdings to more than 17,132
BTC. The company remains the only non-US firm among the top 10 corporate
Bitcoin holders.

Metaplanet ranks below Trump Media & Technology Group and above
Galaxy Digital Holdings, according to BitcoinTreasuries.NET. It has
stated it may use its Bitcoin reserves to fund new business acquisitions. This
could include a digital banking venture in Japan.

Market Volatility and Investor Activity

The pause by Strategy comes
despite continued price swings in the market. Bitcoin experienced volatility
last week. An early investor was also reported to have sold a large amount of
the asset.

This is the second time in July that Strategy has paused its
weekly Bitcoin purchases. The firm also skipped buying in the first week of the
month. It had made two purchases in mid-July, but total acquisitions for the
month fell compared to previous months.

You may find it interesting at FinanceMagnates.com: Why
Is Bitcoin Going Up? Saylor Warns: “Only One Country Can Buy 20% of BTC”.

Stock Offering Expansion

The pause comes as the company expanded its Series A
preferred stock offering, known as STRC. The size of the offering was raised to
more than $2.5 billion. Strategy plans to close the deal later this week. Funds
from STRC are expected to support further Bitcoin investments. In a recent social media post, Co-founder Saylor said the
offering is part of the company’s broader Bitcoin strategy.

This article was written by Tareq Sikder at www.financemagnates.com.

Leave a comment