By George Glover
MicroStrategy stock was sliding Tuesday as cryptocurrencies' tough recent run continued. The business software company's latest Bitcoin purchase will send mixed signals to digital-asset investors.
Shares in the company, which said in February it would be changing its name to Strategy, slid 2.4% ahead of the opening bell. Futures tracking the benchmark S&P 500 index were down 0.3%.
The stock was moving in line with Bitcoin, which slid 2.2% to $82,620. The two assets tend to move in tandem because MicroStrategy is the largest corporate holder of the large-cap token.
MicroStrategy went on a Bitcoin buying spree between mid-November and early February but has scaled back its purchases since.
The company said last week it would sell stock to raise up to $21 billion so it could continue betting on the token, and on Monday revealed it had spent $11 million acquiring 130 Bitcoin, at an average cost of $82,981 -- the first buys it has reported since Feb. 24.
It's tough to know what to make of the news. While a MicroStrategy buy would typically be a bullish signal for Bitcoin, the purchase is its smallest in nearly a year. That suggests the company remains cautious, amid worries that investors could avoid riskier assets such as cryptocurrencies while the market frets about the impact of U.S. President Donald Trump's tariffs.
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 18, 2025 08:17 ET (12:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。