#BTCRebound

MicroStrategy buys Bitcoin worth up to 285 million dollars, creating momentum for accumulation among institutional investors

The Bitcoin purchase by Abraxas Capital occurred right after MicroStrategy's new announcement – the company that owns the most BTC in the world. Recently, MicroStrategy announced that they bought 285 million dollars worth of Bitcoin, with an average price of 82,618 dollars for each BTC.

MicroStrategy's move further motivates large companies in their Bitcoin accumulation activities.

Currently, the trend of accumulating BTC is still spreading among institutional investors and cryptocurrency whales.

Recent data shows that these individuals/institutions holding the most Bitcoin are collectively buying newly mined Bitcoin each year at three times the rate.

Despite such accumulation momentum, analysts are still closely monitoring mid-term Bitcoin holders. These investors hold Bitcoin for three to six months and have recently brought over 170,000 BTC into circulation.