**Article:**
On Monday, Strategy (formerly known as MicroStrategy), which holds the largest amount of Bitcoin (BTC) among corporations globally, revealed its acquisition of an additional 6,220 BTC between July 14 and July 20.
With this recent purchase, the company’s total Bitcoin assets have reached a remarkable 607,770 coins, acquired at a total expenditure of roughly $43.61 billion, averaging $71,756 for each Bitcoin.
Strategy Shares Decline Despite GENIUS Act Ratification
This development happened alongside significant progress in cryptocurrency regulations, as the GENIUS Act passed the House and was signed into law by President Donald Trump on Friday.
The newly enacted stablecoin law sets federal standards for stablecoins, boosting cryptocurrency platforms such as Coinbase Global (COIN) and Robinhood Markets (HOOD), which saw their stock prices increase by 2.2% and 4.1%, respectively, following the announcement.
Despite the positive regulatory news, Strategy’s stock did not see a similar increase, instead dropping by 7.2% over Thursday and Friday, marking its steepest two-day decline since late May.
This downturn was in line with a broader decrease in Bitcoin’s value, which had recently fallen back towards the $117,000 mark from its peak above $123,000 earlier in the week.
Saylor Defends Bitcoin Acquisition Approach
Analysts suggest the stock’s performance may have been influenced by a negative research report from Gus Gala, an analyst at Monness, Crespi, Hardt, who maintained a Sell rating on Strategy’s shares with a target price of $200.
Gala is notably the sole analyst among 17 surveyed by FactSet to assign a Sell rating to Strategy’s stock, which could be causing some investor hesitation.
In the face of these market fluctuations, Strategy’s Chairman Michael Saylor continues to champion the company’s Bitcoin strategy. In a recent social media post on X (formerly known as Twitter), he urged followers to “Stay Humble. Stack Sats,” referring to Satoshis, the smallest unit of Bitcoin, highlighting a long-term strategy of accumulating the cryptocurrency.
As the market adjusts to evolving regulations, crypto enthusiasts are keenly anticipating the next legislative milestone: the CLARITY Act.
This proposed law, which passed the House with a vote of 294-134, seeks to provide a clearer regulatory framework for digital assets by differentiating between securities and commodities and outlining the oversight roles of various federal agencies.
At the time of writing, the leading cryptocurrency is trading at $117,500, reflecting a 14% price increase over the past month and nearly 74% year-to-date. Following the recent price adjustment, Bitcoin’s value is now 4% below its latest all-time high reached during last week’s rise.
Featured image from DALL-E, chart from TradingView.com
