Strategy Buys 535 Bitcoin for $43M Days After Signaling Potential BTC Sales

Strategy, the largest publicly traded corporate holder of bitcoin, announced Monday the purchase of 535 bitcoin for roughly $43 million at an average price of about $80,340 per coin. The acquisition was disclosed by executive chairman Michael Saylor on X, just days after the company signaled potential BTC sales. The purchases bring Strategy's total holdings to 818,869 BTC, acquired for $61.86 billion at an average cost basis of $75,540. With bitcoin currently trading above $81,000, Strategy's stash is now in profit.

This move is significant for crypto traders as it demonstrates continued corporate accumulation despite mixed signals. Last week's purchases were funded by $42.9 million raised through sales of the company's preferred stock, according to a May 11 SEC filing. The fact that Strategy is buying again after hinting at possible sales suggests strong conviction in bitcoin's long-term value. For traders, such large-scale corporate buying can provide a floor under prices, as it reduces the available supply on exchanges. Check NowPrice's crypto page for current bitcoin pricing and volume data.

Looking ahead, market participants will watch for any further SEC filings from Strategy and monitor bitcoin's reaction to the $80,000 support level. The company's next moves could signal broader institutional sentiment. Additionally, the broader macro environment, including US interest rate expectations, will continue to influence risk assets like bitcoin.