Strategy Inc Buys 220 BTC, Boosting 640K Holdings in Turmoil
Strategy Inc, the largest public corporate Bitcoin holder, continued its Bitcoin accumulation strategy by acquiring 220 BTC between October 6–12 at an average price of $123,561. The purchase, funded by $27.3 million net proceeds from at-the-market preferred stock offerings, brings total holdings to 640,250 BTC. This counter-cyclical move boosts the firm’s year-to-date yield on its Bitcoin accumulation strategy to 25.9% after nine straight weeks of buying over 21,000 BTC for $2.46 billion. Institutional peers such as MARA Holdings also joined the trend, adding 400 BTC for $46.31 million during a $19.35 billion liquidation event that pushed prices from $121,560 to below $103,000. Following the announcement, Bitcoin traded between $113,800 and $114,400, reflecting persistent selling pressure. Technical indicators show easing downside momentum yet confirm a bearish trend until a breakout above $116,500 or a drop below $112,000. Strategy Inc’s shares fell 4.8% post-announcement but recovered in pre-market trading. The firm’s ongoing, capital-markets-driven accumulation underscores growing institutional confidence in Bitcoin as a long-term store of value.
Bullish
Strategy Inc’s continued large-scale Bitcoin accumulation, funded by preferred stock offerings, reduces circulating supply and signals strong institutional demand. Nine consecutive weeks of buying and peer purchases by entities like MARA Holdings reinforce bullish sentiment. Although technical indicators show short-term bearish momentum, the volume of capital-markets-driven acquisitions and recovery in Strategy Inc’s share price suggest a likely upside once resistance at $116,500 is breached, underpinning a bullish outlook for Bitcoin.