Strategy Buys Back Into Bitcoin, But Rate Jitters Persist

Bitcoin's price reached $79k as Strategy resumed buying after two months. The cryptocurrency has been relatively stable, remaining close to recent peaks following the top corporate holder's purchase of 4,603 coins for about $368.7 million last week.

The buy was funded through the sale of $602.8 million in common stock, with the remainder directed towards buying back Strategy's preferred shares. This brings Strategy's holdings to 845,050 Bitcoin.

However, gains in crypto markets were tempered by continued caution over higher interest rates and U.S.-Iran tensions. Oil prices soared after the two countries carried out military strikes for the first time in a month, fueling concerns over inflation and interest rates.