Strategy sees its MSTR shares losing ground, with a decline of -17%. This drop comes after Michael Saylor attended the Crypto Summit at the White House, where he presented his Bitcoin plan.
Strategy: MSTR shares drop by 17% after Saylor’s presence at the Crypto Summit
According to Yahoo Finance data, Strategy recorded a drop in its MSTR shares of -17%. Currently, the MSTR shares are worth $239 compared to $268 yesterday, March 10.
Such results come despite the famous presence of the CEO of Strategy, Michael Saylor, at the White House Digital Asset Summit, held last Friday, March 7. On that day, MSTR shares were worth $298.
In any case, during the event, Saylor would have presented his ambitious vision for the bull crypto sector.
Specifically, Saylor suggested that the USA could unlock up to 100 trillion dollars in economic value over the next 10 years, through a clear regulatory framework for digital assets, the removal of barriers to innovation, and the strategic acquisition of BTC.
Here, Saylor talks about the strategic Bitcoin reserve of the US government which anticipates that, by 2035, the US will purchase between 5% and 25% of the total Bitcoin supply. With this approach, the entrepreneur believes that such a strategy could generate between 16 and 81 trillion dollars by 2045.
Not only that, Saylor also proposed a classification of digital assets into four categories: Digital Tokens, Digital Securities, Digital Currencies, and Digital Commodities (like BTC). In this way, the CEO of Strategy would have expressed his opinion also in terms of crypto regulation.
Strategy: the new 21 billion dollar fund also to purchase Bitcoin (BTC)
Despite the crash in the price of MSTR shares, Strategy remains steadfast in its commitment to accumulate Bitcoin.
Just yesterday, Saylor’s company announced its intention to raise another 21 billion dollars for “general corporate purposes, including the acquisition of Bitcoin and for working capital.”
The latest purchase of BTC by Strategy dates back to last February 24, made at an average price of $97,514.
The wallet of Saylor’s company currently holds a total of 499,096 BTC, equivalent to 40.39 billion dollars at the time of writing. Here too, given the previous purchases of BTC, this wallet turns out to be in the bull by 21.9%, despite the bear of BTC’s value.
The price of BTC
While in the USA the creation of a Strategic Reserve of Bitcoin has been announced and, while companies like Strategy continue with their BTC accumulation plans, the price of the crypto leader continues to fall.
In fact, at the time of writing, BTC is worth $80,800, recovering from the slip a few hours ago, when it touched $77,000.
BTC is in a dump of -17% compared to a month ago, when it was worth over $97,000. Not only that, this value is still much further away from the ATH of BTC reached at the end of January above $106,000.