Strategy Buys The Bitcoin Dip: Saylor Unveils New $357 Million Purchase

Michael Saylor’s Strategy has just announced a new Bitcoin purchase, suggesting the price dip hasn’t stopped the company from buying ￰0￱ Has Made A Fresh Addition To Its Bitcoin Treasury As announced by Strategy chairman Michael Saylor in a new post on X, the company has completed a new Bitcoin acquisition involving 3,018 ￰1￱ firm purchased these coins for $356.9 million or an average price of $115,829 per ￰2￱ to the filing with the US Securities and Exchange Commission (SEC), the purchase occurred between August 18th and ￰3￱ is the same window in which BTC faced a drawdown. Thus, it seems the company wasn’t dissuaded by the bearish price ￰4￱ fact, the firm’s purchase this week was significantly bigger than last week’s buy, which involved an amount of 430 BTC ($51.4 million), or the one from the week before, coming at 155 ￰5￱ the latest acquisition, Strategy’s total Bitcoin holdings have grown to 632,457 ￰6￱ the current exchange rate, this converts to almost $71.1 billion, which is nearly 53% above the company’s cost basis of $46.5 ￰7￱ profit-loss balance of the Bitcoin holdings isn’t the only thing the firm is doing well ￰8￱ Saylor shared in an X post , Strategy has shown an impressive stock performance as well.

“Five years ago, $MSTR adopted the Bitcoin ￰9￱ then, we’ve outperformed every asset class and every Magnificent 7 stock,” explains the Strategy ￰10￱ success of Saylor’s firm started a trend of other companies also adopting a BTC treasury ￰11￱ example of this is Japan’s ￰12￱ by president Simon Gerovich, the firm has consistently been buying BTC much like ￰13￱ Sunday, Gerovich unveiled a fresh purchase of 103 BTC ($11.7 million), which took the company’s reserve to 18,991 BTC (acquired for a total of $1.95 billion). The treasury strategy wave has now expanded into the altcoins, with SharpLink being a prominent ￰14￱ firm’s Ethereum holdings currently sit at 740,760 ETH.

Now, news has come out that Galaxy Digital, Jump Crypto, and Multicoin Capital are planning a $1 billion Solana accumulation spree for a SOL ￰15￱ some other news, the CryptoQuant Bull Score Index is currently flagging the market as entering a bearish phase, as explained in an X post by Julio Moreno, CryptoQuant’s head of ￰16￱ Bull Score Index combines different on-chain metrics to determine what part of the cycle Bitcoin is in right ￰17￱ displayed in the above chart, the Bitcoin indicator has gone down recently. “The Bull Score Index is now at 40 and switched to the ‘Getting Bearish’ phase,” notes ￰18￱ Price Bitcoin’s bearish form has continued during the past day as its price has dropped to the $110,900 level.