While the Bitcoin price has cooled off into sideways movement, Strategy has expanded its bet by making yet another large purchase.
With this buy, the firm has added 6,220 BTC for $739.8 million to its holdings. This has taken the company’s total reserve to 607,770 BTC and total invested value to $43.61 billion.
As displayed in the above graph, the latest acquisition isn’t too big in BTC terms in the grand scheme of things. Since the asset’s price is trading at all-time highs (ATHs), however, the purchase is still expensive in USD terms.
The analyst has also shared another chart, this one showcasing the amount of profit that the firm’s Bitcoin holdings are carrying at the moment.
From the graph, it’s visible that the unrealized gain associated with Strategy’s Bitcoin holdings has blown up alongside the bull run and today, it sits at a whopping $28 billion. This means that the firm is sitting on more than 64% in the green.
The Open Interest measures the total amount of positions related to a given asset or group of assets that are currently open on all centralized derivatives platforms. As is apparent in the chart, the indicator has seen a sharp surge for the altcoins recently, indicating that there has been a flood of speculative interest around them.
Bitcoin, on the other hand, has only registered a relatively small uptick in the metric. In the chart, the analyst has highlighted what happened the previous times BTC and the alts diverged in this manner.
It would appear that all of these instances coincided with some sort of top for the cryptocurrency. It now remains to be seen whether something similar would follow this time as well.
At the time of writing, Bitcoin is floating around $117,800, down almost 2% in the last seven days.
