MicroStrategy’s latest BTC purchase announcement is met with a dull market response that’s consistent with the past record. Reports godbole17.
the purchase of over 12,000 bitcoin for $347 million. The fresh accumulation has boosted the company's coin stash to 152,333 BTC.
The dull market response is consistent with the cryptocurrency's record of losing some ground following MicroStrategy's announcements of new coin purchases of over 1,000 BTC, according to data analyzed by K33. "The short-term impact tends to reverse in the days that follow, and there are no clear evidence of a prolonged adverse market impact on MicroStrategy announcements, with the average weekly return sitting in slight positive territory," Lunde said.
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