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U.Today - Michael Saylor, founder and chairman of Strategy (formerly MicroStrategy) Bitcoin-focused giant, has taken to his official account on the X platform to address his followers about the world’s primary cryptocurrency, Bitcoin.
Saylor issues Bitcoin buy call
Over the past 24 hours, BTC has staged an increase of 2.4%, rising from the $82,390 zone to surpass $84,350. That minor increase was followed by a price slip, but by now Bitcoin has recovered the $84,000 price level.Saylor has urged the Bitcoin community to begin accumulate Bitcoin on the dip. He tweeted: “Don’t be a fool. Buy Bitcoin.” Curiously, today’s AI-generated picture of himself posted by Saylor has him dressed in a jester’s suit, wearing a jester’s cap with bells. Court jesters were also often referred to as fools, but they were sometimes the only ones who were allowed to advise kings and queens.
Yesterday, on March 31, Saylor announced that his company had purchased a massive amount of Bitcoin worth almost $2 billion. That was enough to buy 22,048 BTC (valued at approximately $1.92 billion). Now, the company holds 528,185 Bitcoins in total, equal to roughly $35.63 billion.
Monness Crespi Hardt downgrades MSTR
The Bloomberg Terminal account on X has reported that the New York stockbroker Monness Crespi Hardt has downgraded the rating of Strategy from “neutral” to “sell.” The reason cited was that during recent fundraising attempts, Saylor’s company has faced “weaker-than-expected absorption” of the shares sold by Strategy.Recently, Strategy made an offering of $700 million worth of perpetual preferred stock to investors to raise money to fund its further Bitcoin accumulation. However, the New York broker believes this offer from Saylor’s company faced lower investor demand than was anticipated. Citing Monness Crespi Hardt, the Bloomberg Terminal stated that the broker now sees this method as unsustainable due to current market saturation.