Bitcoin acquisition vehicle Strategy (formerly MicroStrategy) has purchased an additional 245 Bitcoin at an average price of $105,856 per coin, totaling an investment of approximately $26 million.
This latest buy increases Strategy’s total Bitcoin holdings to 592,345 BTC. The firm reported an average cost basis across its entire position of $70,681 per Bitcoin.
The purchase occurs while Bitcoin’s price tests support near the $100,000 mark. Technical indicators are viewed by some market participants as potentially signalling a bullish reversal should this crucial price level hold despite the recent volatility.
Recent market uncertainty has been attributed to factors including geopolitical tensions, such as U.S. military actions in Iran, contributing to notable price swings and unusual selling activity.
Strategy’s aggressive and consistent Bitcoin accumulation underscores a growing trend of institutional adoption within the cryptocurrency sector. This continued buying pressure from major holders like Strategy is perceived by analysts as a potential stabilizing force for Bitcoin’s price in the medium to long term.
The firm’s transparent disclosure of its substantial holdings and commitment to ongoing accumulation reflects a visibly bullish long-term outlook, even amid current market fluctuations and external pressures.