Strategy Boosts Bitcoin Holdings Amid Global Markets Jitters
Bitcoin held steady near $78k on Tuesday, as Strategy resumed buying after two months. The world's largest cryptocurrency had declined 2.2% to $77,225.3 by 17:59 ET (21:59 GMT) amid a global bond rout and escalating tensions between the U.S. and Iran.
The sell-off in major bond markets was driven by rising concerns about inflation and fiscal debt, while oil prices jumped due to kinetic action resumed on Sunday after CENTCOM took what it called 'limited, precise action' against IRGC forces laying mines in the Strait of Hormuz.
Strategy's latest purchase brings its holdings to 845,050 Bitcoin, marking a significant addition since late-June. The buy was funded through the sale of $602.8 million in common stock and acquisition of STRC preferred shares.