Analyst says Strategy should pause its Bitcoin purchases

Strategy (MSTR), the largest single corporate holder of Bitcoin, should temporarily halt its purchases of the cryptocurrency, according to Julio Moreno, a senior analyst at CryptoQuant. Moreno stated that Strategy should acknowledge the current bear market and pause its buying activity. He advised the company to hold cash and wait for market conditions to improve, a process that could take several months, to avoid continuing to buy at market peaks. He suggested holding cash in a bear market and investing when a bull market begins. This advice follows a recent statement from Strategy founder Michael Saylor, who affirmed the company will continue to buy BTC every quarter and will not sell its holdings. Strategy holds 714,644 BTC, with a total acquisition cost of approximately $54.35 billion and an average purchase price of $76,056.