The company bought 245 BTC as tensions rose in the Middle East.

Strategy, previously known as MicroStrategy, acquired 245 Bitcoins worth approximately $24.8 million at current prices, its second smallest Bitcoin purchase this year, according to a company disclosure made on Monday (23).

The Virginia-based software company purchased the tokens at an average price of $105,856 per Bitcoin between June 16 and 22. The purchase raises its total holdings to 592,345 tokens, valued at around $60 billion based on the current BTC price listed on the data provider CoinGecko.

The latest reported purchase by Strategy is the second largest, only behind the acquisition of 130 Bitcoins between March 10 and 16, data from the Saylor Tracker shows.

The relatively modest acquisition occurs amid a dramatic escalation of tensions in the Middle East — a development that is driving investors away from risk assets such as cryptocurrencies to investments considered safe, like gold.

At the center of the geopolitical turmoil is a long-standing military confrontation between Iran and Israel, which intensified last week as the two countries exchanged missile fire. On Sunday, the U.S. bombed sites suspected of being crucial to Iran's nuclear weapons development.

The attacks shocked global oil markets as well as digital assets, although the price of gold has risen.

Bitcoin is trading at $101,640, a 5.6% drop over the past week, according to CoinGecko. BTC fell below $100,000 on Sunday, its first time below that threshold since early May.

The total cryptocurrency market capitalization plummeted about 6%, to $3.2 trillion over the past seven days, data shows.

On the other hand, gold futures opened at $3,400.70 per ounce on Monday, a 1% increase from their closing price on Friday, according to Yahoo Finance. Oil futures were also up following a series of bombings last week, rising more than 4%.

Despite broad macroeconomic uncertainty, Strategy reported having bought Bitcoin for eleven consecutive weeks, spending over $6 billion on the digital asset since mid-April.

Other companies also signaled their continued commitment to Bitcoin, with Metaplanet, listed in Tokyo, buying 1,111 Bitcoins worth $118 million on Monday. The purchase raises its total holdings to exactly 11,111 BTC while it races towards an ambitious goal of acquiring 100,000 Bitcoins by the end of 2026.

And the cashback company listed in Brazil, Méliuz, revealed its latest Bitcoin purchase worth $28.61 million on Monday.