Strategy Spends $370 Million on Bitcoin Amid Bullish Conviction
Strategy, a firm led by Michael Saylor, has resumed its Bitcoin purchases after a three-month pause. The company bought 4,603 BTC for approximately $370 million at an average price of $80,318 per bitcoin.
This marks the first purchase since June and ends a unusually long pause for a firm known for its near-continuous accumulation of BTC. The entry price chosen is significantly higher than the coins sold over the summer, revealing a strong signal of bullish conviction in the long-term trajectory of BTC.
The $370 million purchase has sent a clear message to the market that Strategy remains committed to accumulating BTC despite short-term volatility. This type of announcement often acts as a catalyst for institutional purchases and can reinforce support levels and reduce selling pressure in the spot market.