Following a week of Bitcoin buying pause, Michael Saylor’s Strategy has gone back to accumulation with a fresh acquisition.
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%.
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.
The acquisition from MARA Holdings suggests that while Bitcoin’s crash was violent and caused massive liquidations, institutional interest in the cryptocurrency still remains.
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.
Bitcoin has returned back to the $115,300 mark following its recovery surge.
