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Michael Saylor’s bitcoin announcements no longer seem to pump MSTR stock

Investors dumped Strategy (formerly MicroStrategy) stock following Michael Saylor’s four most recent bitcoin purchase announcements.

Strategy trades at nine-month low multiple to its bitcoin holdings

Investors are willing to pay the worst premium in nine months for MSTR shares as a multiple of the company’s bitcoin holdings.

According to Strategy founder Michael Saylor, buying bitcoin strengthens the network while selling weakens it.

Strategy reported earnings this week with Michael Saylor focusing on financial abstraction across an hour-long webinar.

MicroStrategy reportedly raised $563.4M via its new Series A Perpetual Strike Preferred Stock after targeting just $250M for the raise.