Strategy buys 1,550 bitcoin, first purchase since selling BTC
Strategy acquired 1,550 bitcoin for $101 million, its first purchase since selling 32 BTC in June, as bitcoin rebounded above $62,000 after a 15% weekly drop.
Strategy (MSTR) has purchased 1,550 bitcoin for approximately $101 million, marking its first acquisition since selling 32 BTC earlier this month. The purchase was announced Monday by Executive Chairman Michael Saylor, bringing the company's total bitcoin holdings to 845,256 BTC.
The acquisition comes after bitcoin fell roughly 15% last week, briefly dipping below $60,000 before rebounding above $62,000. The decline was partly attributed to Saylor's sale of 32 bitcoin on June 1, which had raised concerns about reduced buying pressure from the corporate treasury. The latest buy signals a resumption of Strategy's aggressive accumulation strategy, adding to its already massive reserve. The company also disclosed it increased its U.S. dollar reserves by $100 million, bringing total cash to $1 billion, indicating strong liquidity to support further purchases.
For crypto traders, Strategy's renewed buying activity is a bullish signal, as the company is one of the largest corporate holders of bitcoin. The purchase suggests confidence in bitcoin's long-term value despite recent volatility. Live crypto prices and charts on NowPrice show bitcoin trading around $62,000, with traders watching for a potential breakout above resistance levels. The next key event is the upcoming Federal Reserve meeting, where rate decisions could impact risk assets including bitcoin. Additionally, on-chain data shows exchange reserves declining, a historically bullish supply-side indicator that could support further price appreciation.