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Michael Saylor hints that MSTR will continue to increase its Bitcoin holdings, despite criticism from Peter Schiff
CoinWorld news reports that, according to Coinpaper, MSTR stock rose or fell while Michael Saylor hinted that he would buy more Bitcoin again, and Peter Schiff criticized its financing model. MSTR stock was weak in today’s trading, with the latest trading price at $171.02, down 0.84%. After a strong rebound, Bitcoin is trading at around $78,016. The market is watching whether MSTR will make a sufficiently large buy to change perceptions of its financing model. On April 20, MSTR announced it would acquire 34,164 Bitcoins for approximately $2.54 billion, with an average price of $74,395, bringing its total holdings to 815,061 Bitcoins, at an estimated cost of $75,527. Although Bitcoin is still above its average acquisition price, MSTR stock failed to follow Bitcoin’s rebound. Saylor previously issued signals related to Monday’s Bitcoin updates, and the market is full of expectations for its next week’s increase in holdings.