For the first time on Wall Street, an analyst recommended that investors sell Strategy, and the market seems to be close to saturation

CoinRank News: Strategy (formerly MicroStrategy)s aggressive strategy of buying Bitcoin by selling stocks and bonds to finance its purchases may have come to an end. Now, for the first time on Wall Street, an analyst has emerged to advise investors to sell, and the analyst is Gus Gala of Monness Crespi Hardt, who made this bearish call. Just the day before, Strategy disclosed that it spent $1.92 billion to buy 22,048 Bitcoins (BTCUSD) at an average price of $86,969 between March 24 and March 30. Gala downgraded MicroStrategys rating from neutral to sell, becoming the only short among the 14 analysts surveyed by FactSet covering the company, while the remaining 13 are long. Gala said his concern is that investors response to MicroStrategys recent issuance of bonds and preferred stocks, which were originally planned to buy more Bitcoin, was not ideal. He believes that the market seems to be close to saturation, which means that it may cost more for MicroStrategy to raise funds to continue buying Bitcoin in the future. (Barrons)