Strategy CEO Says Company Will Keep Buying Bitcoin, Calls Current Price Attractive
Summary
- Strategy said it will continue its policy of buying more Bitcoin (BTC).
- Strategy CEO Phong Le said the company will keep buying Bitcoin, adding that he views the current price as attractive.
- The market is watching how buying demand from institutional investors will affect Bitcoin supply and demand.
Forecast Trend Report by Period
Strategy said it will continue buying Bitcoin.
Cointelegraph reported on May 29 that Chief Executive Officer Phong Le said the company would keep purchasing Bitcoin and views the current price as attractive.
Strategy is known as the world's largest corporate holder of Bitcoin. The company has steadily acquired the cryptocurrency using funds raised through convertible bond offerings and stock sales.
Michael Saylor, Strategy's executive chairman, has also characterized Bitcoin as a long-term treasury asset and has consistently emphasized a strategy of continued accumulation.
The remarks came as Bitcoin undergoes a price correction. Market participants are watching how buying demand from institutional investors will affect Bitcoin's future supply-demand dynamics.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
