Quick breakdown
- MicroStrategy bought 196 BTC for $22.1M as Bitcoin fell below $110,000.
- The company now holds 640,031 BTC, purchased for $47.35B in total.
- Michael Saylor expects Bitcoin to rally toward year-end despite headwinds.
MicroStrategy buys the dip amid market weakness
MicroStrategy, the world’s largest corporate holder of Bitcoin, has strengthened its position by acquiring an additional 196 BTC last week. The $22.1 million purchase came as Bitcoin briefly slipped below the $110,000 mark, according to a U.S. Securities and Exchange Commission (SEC) filing on Monday.
The latest acquisition was made at an average price of $113,048 per Bitcoin, with the cryptocurrency beginning the week near $112,000 before tumbling on Thursday, data from CoinGecko shows.
Total holdings now exceed 640,000 BTC
Following the purchase, MicroStrategy now controls 640,031 BTC valued at roughly $47.35 billion, bought at an average price of $73,983 per coin. While this latest buy underscores the company’s continued accumulation strategy, it represents one of its smallest weekly Bitcoin acquisitions in recent months, reflecting a gradual slowdown in purchase volumes.
Saylor remains confident in year-end rally
Despite reduced buying, co-founder Michael Saylor maintains a bullish outlook. Speaking last week, he predicted Bitcoin could rebound strongly toward the end of the year as institutional adoption grows and macroeconomic pressures ease.
“I think that as we work through the resistance of late and some macro headwinds, we’ll actually see Bitcoin start to move up smartly again toward the end of the year,”
Saylor said. Saylor added that
“companies that are capitalizing on Bitcoin are buying even more than the natural supply being created by the miners,”
which is “putting upward pressure on the price.”
Meanwhile, Saylor urged U.S. regulators in August to establish a formal taxonomy for digital assets, warning that ongoing regulatory ambiguity threatens to stall innovation and hinder the nation’s competitiveness in the global crypto market.
Speaking during Strategy’s second-quarter earnings call on Thursday, Saylor emphasized the urgent need to define key terms such as “digital security,” “digital commodity,” and “tokenized asset.”
If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
