Strategy buys an additional 51.4 million USD in Bitcoin, reinforcing market confidence

Strategy (formerly MicroStrategy), the company led by billionaire Michael Saylor, continues to reinforce its strategy of accumulating Bitcoin (BTC). The company has just announced that it purchased an additional 430 #BTC at a price of 51.4 million USD, raising its total Bitcoin holdings to 629,376 BTC.

Consistent accumulation strategy

This move comes despite recent market volatility. Strategy purchased this BTC at an average price of 119,666 USD/BTC, increasing their overall average purchase price to 73,320 USD/BTC. The funding for this purchase was raised from the sale of STRK, STRF, and STRD stocks.

The continuous buying by #strategy of Bitcoin, even when prices are high, demonstrates their commitment to a long-term strategy, viewing Bitcoin as a strategic reserve asset equivalent to gold.

Impact and risks

Reinforcing confidence: Announcements of BTC purchases from Strategy typically have a positive impact on the market, reinforcing investor confidence and potentially triggering bullish sentiment #FOMO , driving demand and BTC prices in the short term.

Setting a precedent: This strategy also sets a precedent for other public companies, contributing to the scarcity of Bitcoin and enhancing its value in the long term.

Risks: However, buying at high price levels also carries risks for Strategy if the market experiences significant corrections.

Strategy's latest BTC purchase comes amid the cryptocurrency market gaining strong momentum from major institutions and investor expectations regarding Fed policy. #anh_ba_cong