Following a week of Bitcoin buying pause, Michael Saylor’s Strategy has gone back to accumulation with a fresh acquisition.
Strategy Has Bought Another $27.2 Million Worth Of Bitcoin
As announced by Strategy co-founder and chairman Michael Saylor in an X post, the Bitcoin treasury company has just made a new purchase. The buy, which occurred between October 6th and 12th, involved a sum of 220 BTC at an average price of $123,561 per token or a total cost of $27.2 million.
Strategy has been a pretty consistent buyer of the cryptocurrency in recent months, but last week was one of those rare occasions where it took a break from the usual Monday acquisitions.
Although the latest purchase is on the smaller side, it nonetheless signals a return of accumulation for the firm. According to the press release, this buy was funded using sales of STRF, STRK, and STRD at-the-market (ATM) stock offerings.
Strategy now holds 640,250 BTC, with a total acquisition cost of $47.38 billion. At the current exchange rate, the company’s BTC treasury is at a profit of almost 55%.
Michael Saylor’s firm isn’t the only Bitcoin treasury company that has recently expanded its reserves. As pointed out by blockchain sleuth Lookonchain in an X post, MARA Holdings has bought another 400 BTC.
As is visible in the Arkham Intelligence data shared by Lookonchain, MARA received the sum from a wallet attached to FalconX, an institutional digital assets prime brokerage, at a total price of $46.31 million.
Unlike Strategy’s purchase, which took place above $123,000, MARA’s acquisition seems to have occurred to take advantage of the post-crash BTC prices, coming in at about $115,800.
Prior to the buy, the mining company held 52,850 BTC. Now, with the new 400 BTC addition, its treasury has grown to 53,250 BTC. The firm continues to be the second-largest Bitcoin treasury behind Strategy, as data from BitcoinTreasuries.net shows.
The acquisition from MARA Holdings suggests that while Bitcoin’s crash was violent and caused massive liquidations, institutional interest in the cryptocurrency still remains.
Speaking of the price plunge, investor morale took a huge hit by the latest market volatility. As the Fear & Greed Index created by Alternative shows, the investor sentiment dipped into the extreme fear territory during the weekend.
Sunday’s value of 24 was the lowest that the indicator had seen since April. With Bitcoin observing some recovery, sentiment in the sector has marked an improvement, although it continues to be at a fear value of 38.
It now remains to be seen how the trader mentality will develop in the coming days and whether investors will be able to break out of the spell of fear.
BTC Price
Bitcoin has returned back to the $115,300 mark following its recovery surge.
