Institutional bull Strategy (MicroStrategy), known for its regular weekly Bitcoin ($BTC) purchases, resumed buying after a one-week break.
As you may recall, Strategy made its first Bitcoin sale in a long time last week, selling a total of 32 $BTC at a price of $77,135. This sale generated $2.5 million in revenue.
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At this point, Strategy resumed buying Bitcoin following last week’s sell-off and added 1,550 $BTC this week.
The news was announced by company founder Michael Saylor via a post on his X account.
Accordingly, Strategy announced that it purchased 1,550 $BTC for approximately $101 million, increasing its holdings to 845,256 $BTC. Strategy also increased its USD Reserve from $900 million to $1 billion.
This move comes after the company sold 32 $BTC last week, at which time concerns were raised in the market that it could jeopardize Strategy’s long-term Bitcoin holding strategy.
However, this additional purchase could reinforce the interpretation that Strategy is maintaining its Bitcoin accumulation stance.
“Strategy purchased 1,550 $BTC for $101 million to increase its Bitcoin reserve to 845,256 $BTC.”
We also increased our USD reserves by $100 million, bringing the total to $1.0 billion.
*This is not investment advice.
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