Strategy Investors Keen for Details on Its Bitcoin-Buying Power
Dow Jones00:30
1230 ET - Investors in bitcoin-holding company Strategy care less about the nearly $21 billion gain on digital assets it recently pre-announced and more about how it will fund future bitcoin purchases, StoneX analyst Mark Palmer says in a research note. The stock will be driven from here by the actions the company takes to strengthen the funding platform that its acquisition strategy depends on, the analyst says. Executives will likely present the quarter as a period in which it constructed a more durable engine for bitcoin accumulation, he says. "The big question that investors will look for management to answer during the company's earnings call is when that engine will be turned back on in earnest," Palmer says.
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