For the first time, Wall Street analysts are suggesting investors sell Strategy, as the market seems to be nearing "saturation"

MicroStrategy's aggressive strategy of buying Bitcoin through financing by selling stocks and bonds may have reached its end. For the first time, a Wall Street analyst has suggested that investors sell. This analyst is GusGala from Monness Crespi Hardt, who made this bearish judgment. Just the day before, MicroStrategy disclosed that it had spent $1.92 billion between March 24 and March 30 to purchase 22,048 Bitcoins (BTCUSD) at an average price of $86,969 each.

Gala has downgraded MicroStrategy's rating from "neutral" to "sell", becoming the only bear among the 14 analysts covering the company in a FactSet survey, with the remaining 13 being bulls. Gala stated that his concern lies in investors' less than ideal reaction to MicroStrategy's recent issuance of bonds and preferred stocks, which were originally planned for purchasing more Bitcoin. He believes that the market seems to be nearing "saturation," implying that MicroStrategy may face higher costs for fundraising to continue buying Bitcoin in the future. (Barrons)