Strategy Scales Back Bitcoin Buys as BTC Dips
Strategy acquired 245 Bitcoin for approximately $24.8 million, averaging $105,856 per Bitcoin, between June 16 and 22. This purchase increases its total Bitcoin holdings to 592,345 tokens, valued at around $60 billion. The acquisition is the second smallest this year, following a purchase of 130 Bitcoin in March. The purchase occurs amid heightened geopolitical tensions between Iran and Israel, prompting a shift from cryptocurrencies to safer assets like gold. Bitcoin is currently trading at $101,640, down 5.6% over the past week, with the total cryptocurrency market cap falling about 6% to $3.2 trillion. In contrast, gold futures rose by 1% to $3,400.70 per ounce. Strategy has consistently bought Bitcoin for eleven weeks, investing over $6 billion since mid-April. Other companies, including Metaplanet and Méliuz S.A., also continue to invest in Bitcoin, with Metaplanet acquiring 1,111 Bitcoin and aiming for 100,000 by 2026.
