MicroStrategy dey buy $43M Bitcoin, e no respect S&P 'Junk' Rating
MicroStrategy don buy 390 BTC for about $43 million at average price $114,562, so e total reserve don reach 640,808 BTC (around $47.44 billion). Dem still buy am despite say S&P Global downgrade the company credit rating to B-, because dem say the company get plenty Bitcoin for their balance sheet. After dem announce am, MSTR shares rise 2.27% to $295.63, but e still dey down 4.8% for last one month. Analyst Adam Livingston talk say S&P rating no fair as e dey punish company wey dey use Bitcoin, say U.S. Treasuries go count as better capital. Bitcoin dey trade at about $114,236, down 1.48% for 24 hours as price no too dey shake. Traders fit see the new Bitcoin buy as good sign for both BTC and company treasury plans, but big exposure get risk for price shake and credit wahala.
Bullish
MicroStrategy dey still dey buy Bitcoin even tho dem get 'junk' credit rating, e show say di company get strong confidence for BTC as treasury reserve asset. Dis buy fit make people feel good and fit help support Bitcoin price, wey make di outlook dey bullish. For short term, low wahala with price and small price fall mean say downside no too much, plus fresh institutional demand fit push price up. For long term, as big company still dey buy, e fit make BTC market stable and make more companies dey take BTC, but if many money dey one place, e fit cause more wahala with volatility and credit matter.