Strategy has just announced its brand new Bitcoin purchase. Here’s how the profit-loss situation of the firm’s holdings looks now.
These tokens were purchased at a price of about $103,498 per coin or approximately $764.9 million in total. This is the third acquisition that the company has made in this month of May and it’s far larger than the $180 million first buy, but significantly falls behind the $1.34 billion second purchase.
Following this acquisition, Strategy now holds about 576,230 BTC. The company has spent a total of $40.18 billion on its BTC purchases, which comes down to about $69,726 per coin. This value is clearly significant under the current spot price, so the firm’s holdings would be in notable profit.
From the chart, it’s visible that the company’s holdings have remained in the green since late 2023, being unshaken by any volatility that BTC has faced during the past year. Naturally, if the current BTC rally is going to last, then Strategy should maintain its greenness in the near term.
The RSI is a metric that basically measures the speed and magnitude of the changes happening in any asset’s price over a given period. In the current case, the period is the 14-day one.
When the indicator’s value is greater than 70, it can be a sign that Bitcoin is becoming overpriced. On the other hand, it being under 30 implies underbought conditions.
As is apparent from the chart, the Bitcoin RSI fell out of the overbought region earlier, but now, it has made a return to it. As such, if the indicator is anything to go by, it’s possible that BTC could encounter turbulence in the coming days.
Bitcoin has gone through a rollercoaster over the past day with its price witnessing sharp swings in either direction, with the latest one taking it to $105,200.
