The post MicroStrategy Pauses Bitcoin Purchases Ahead of Earnings Release appeared first on Coinpedia Fintech News
MicroStrategy, the fourth-largest holder of bitcoin, paused its buying streak last week, with Michael Saylor revealing on X that no new tokens were acquired, breaking its 12-week streak of bitcoin purchases last week. Notably, the company had been buying bitcoin on a weekly basis since Nov. 11, bringing its total holdings to 471,107 bitcoin. While Saylor didn’t specify why the company paused its purchases, analyst suggests that it could be due to the upcoming earnings release on Feb. 5. Public companies enter a blackout period before earnings reports to avoid insider trading, limiting buying or selling of company securities.