Strategy stock drops as $2.1 billion bitcoin buy runs into fresh crypto slide
Strategy Inc shares fell 6.8% to $161.94 after the company disclosed buying 22,305 bitcoin for $2.13 billion, funded by new share sales. Bitcoin dropped 2.4% to $90,783, below Strategy’s latest average purchase price. The company now holds 709,715 bitcoin, acquired for $53.92 billion. Investors await Strategy’s Q4 earnings on Feb. 5.