Corporate Bitcoin Buying Spree Fails to Halt Market Decline

Bitcoin dropped below $85,000 on Monday, even as major corporate treasuries made significant purchases. Strategy, Metaplanet, and Strive collectively added 3,334 BTC to their holdings, yet the market continued to decline. The divergence between institutional buying and short-term market sentiment highlights ongoing selling pressure.

Strategy acquired 334 BTC between October 1 and October 4 at an average price of $85,838.80, investing $28.7 million. The firm now holds 848,000 BTC, valued at approximately $63.97 billion. However, the recent drop below $85,000 has placed Strategy’s latest purchase in negative territory.

Metaplanet, a Japanese corporation, increased its Bitcoin holdings by 1,000 BTC in the third quarter. The company sold 10,000 BTC and repurchased 11,000 BTC, bringing its total holdings to 44,000 BTC. Metaplanet continues to actively manage its Bitcoin exposure during market volatility.

Strive led the recent buying spree, accumulating 2,000 BTC between September 28 and October 2 at an average price of $84,422. The investment amounted to about $169 million, bringing Strive’s total holdings to 29,462 BTC. Despite these purchases, Bitcoin’s price continued to fall, indicating that corporate demand alone is not sufficient to drive a sustainable rally.