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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。