🔥 Bitcoin Pauses, But Strategy₿ Loads Up With Another $740M Bet! 🪙🚀

Strategy has added another major buy as Bitcoin prices have settled into sideways action.

Strategy Announces Bitcoin Acquisition
Strategy Chairman and co-founder Michael Saylor announced the company's latest Bitcoin purchase on X.

Through this purchase, the corporation has acquired 6,220 BTC for $739.8 million. The corporation now has 607,770 BTC in reserves and $43.61 billion invested.

The transaction occurred between July 14th and 20th, according to the SEC filing. BTC price merely moved sideways throughout this time, but Strategy seemed unmoved.

Saylor previewed this acquisition announcement on X, as usual. The Strategy Chairman posted, “Stay Humble. Shared chart from Stack Sats.

CryptoQuant forum analyst Maartunn published a graphic in an X post comparing the newest purchase to others from the prior year.

The graph above shows that the newest purchase isn't substantial in BTC terms. The asset's price is at all-time highs (ATHs), making the acquisition pricey in USD.

The analyst also released a graphic showing the firm's Bitcoin holdings' current profit.

The graph shows that Strategy's Bitcoin unrealized gain has exploded along with the bull run, reaching $28 billion today. This puts the company over 64% in the green.

In another X article, Maartunn noted that Bitcoin and altcoin Open Interest is separating.

Open Interest quantifies the number of open positions on all centralized derivatives platforms for a certain asset or group of assets. The graphic shows that altcoins have witnessed a dramatic spike in speculative interest.

Bitcoin has only seen a slight increase in the measure. The expert noted prior BTC and alts divergences on the chart.

These events seem to have corresponded with a bitcoin peak. It remains to be seen whether this time anything similar happens.

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