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Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
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Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
bitcoin

Strategy Buys 130 Bitcoin, Now On The Brink Of 500,000 BTC Holdings

Ash Tiwari
by Ash Tiwari
5 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Strategy, formerly known as MicroStrategy, announced the acquisition of 130 Bitcoin (BTC) for a total of $10.7 million, averaging $82,981 per BTC. This latest purchase pushes Strategy’s total crypto holdings to the brink of 500,000 BTC.

Strategy On The Edge Of 500,000 Bitcoin

In an announcement today, Michael Saylor-led Strategy revealed that it had added another 130 Bitcoin to its crypto reserves. Saylor shared the development in an X post.

Related Reading: Strategy Inches Closer To 500,000 Bitcoin With Fresh 20,356 BTC Purchase

The firm’s latest purchase reaffirms its “buy the dip” strategy to strengthen its Bitcoin holdings. Notably, the 130 BTC were acquired between March 10 and March 16.

As of now, Strategy holds a total of 499,226 BTC, just 774 BTC short of the half-million mark. The company’s average total cost per BTC stands at approximately $66,360.

At the time of writing, Strategy’s shares (MSTR) are trading at $293.20, down 1.31% in the pre-trading session. The stock has fallen over 11% in the past month, driven by the broader crypto market pullback, largely fuelled by global macroeconomic uncertainty.

MSTR
Source: Yahoo! Finance

This latest purchase widens the already substantial gap between Strategy and its closest corporate competitor, Marathon Digital Holdings, which holds 26,842 BTC. According to CoinGecko data, Strategy now controls over 2.12% of the total Bitcoin supply.

Bitcoin’s recent price pullback has triggered widespread bearish sentiment across the market. Analysts note that a surge to $90,000 could liquidate approximately $3.4 billion worth of BTC open contracts, primarily short positions.

BTC Flashes Stochastic RSI Bullish Cross

Despite the bearish mood, crypto analysts remain optimistic about a potential price rebound. According to a recent X post by Merlijn The Trader, Bitcoin has flashed a Stochastic Relative Strength Index (RSI) bullish cross – a technical indicator hinting at upward momentum.

Related Reading: Mexican Billionaire Reveals 70% Exposure To Bitcoin And Related Investments

For the uninitiated, a Stochastic RSI bullish cross happens when the fast-moving line (blue) crosses above the slower line (orange), especially when both lines are in the lower range, usually below 20, the “oversold” zone. 

merlijn
Source: Merlijn The Trader on X

This suggests the asset might be shifting from a period of weakness to strength, hinting that upward momentum could be starting and present a potential buying opportunity for BTC investors. 

Merlijn The Trader noted that each time BTC has shown a Stochastic RSI bullish cross, it has historically experienced an average price increase of 56%. The analyst added that BTC at $120,000 is “just the start.”

Beyond Strategy, other companies are increasingly adopting Bitcoin as part of their corporate treasury strategies. Recently, US-based Bitcoin financial services firm Fold Holdings announced the purchase of 475 BTC.

Similarly, in February, Japanese company Metaplanet unveiled its first Bitcoin purchase of the year. At press time, BTC trades at $83,334, up 1% in the past 24 hours.

bitcoin
BTC trades at $83,334 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, Charts from Yahoo! Finance, X, and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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