Strategy Buys 8,178 BTC for $835.6M, Now Holds 649,870 BTC
Strategy, the company formerly known as MicroStrategy, purchased 8,178 Bitcoin on November 17 for a total of $835.6 million, acquiring each BTC at an average price of $102,171. This latest Bitcoin acquisition raises Strategy’s total holdings to 649,870 BTC, with a cumulative purchase cost of $48.37 billion and an average cost basis of $74,433 per coin.
The aggressive BTC accumulation underscores ongoing institutional demand for Bitcoin as a treasury asset. By adding to its substantial Bitcoin portfolio, Strategy demonstrates confidence in long-term Bitcoin value, which could support market sentiment and price stability. Traders should note that large-scale corporate purchases have historically coincided with bullish trends in the cryptocurrency market.
Bullish
Strategy’s substantial Bitcoin purchase reflects strong institutional confidence in BTC’s long-term value and supply scarcity. By allocating $835.6 million to acquire 8,178 BTC, Strategy boosts market demand and reduces available supply, historically correlating with upward price movements. Similar to previous buying sprees by MicroStrategy, this corporate acquisition could fuel bullish sentiment in both short-term trading and long-term market outlook. Traders may expect increased volatility followed by potential price support as major holders accumulate.