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Strategy just bought 155 BTC for $18 million, bringing its holdings to roughly 3% of Bitcoin's supply.
Bitcoin rose beyond $122,000 on Monday, 2.4% behind its peak.
Bitcoin (BTC) rose to $122,200 on Monday, nearing its all-time high of $123,091, before settling at $120,000. Before DJT's S-1 registration statement revision for a spot Bitcoin ETF, the surge occurred.
Strategy maintains Bitcoin purchase as Trump Media pursues Bitcoin ETF debut.
Trump Media revised its spot Bitcoin ETF registration statement with the SEC on Monday.
Crypto.com will be the ETF's Bitcoin custodian, principal execution agent, and liquidity provider, while Yorkville America Digital will sponsor it, the business said Monday.
June saw the business register for a Bitcoin and Ethereum (ETH) ETF with 75% Bitcoin and 25% Ethereum. The revision follows $260 million in worldwide spot Bitcoin product inflows last week.
Bitcoin ETFs in the US received $246 million last week, the most. After a week of Bitcoin product outflows, inflows followed.
Trump Media's $2 billion Bitcoin acquisition to enhance its digital asset treasury strategy coincides with the announcement. The business said their BTC purchase amounts for two-thirds of its liquid assets.
Last week, business intelligence company Strategy (MSTR) acquired 155 BTC, bringing its crypto holdings to 628,791 BTC at a cost of $46 billion. Since buying Bitcoin in August 2020, the corporation has bought approximately 3% of its supply.
Bitcoin climbed rapidly above $123,000 in the early European session on Monday, closing at $120,500 at publishing. The top asset recovered from its $114,000 drop last week and is 2% below its all-time high.
According to a Monday Glassnode report, Bitcoin fee volume rose 10.3% and transfer volume held constant at $8.5 billion despite previous decreases. Fee volume increases indicate block space rivalry and transaction inclusion demand.
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