The world’s largest corporate holder of Bitcoin, Strategy, has once again increased its position, continuing its long-term accumulation strategy despite recent market volatility. The latest purchase was executed prior to the sharp market declines on Thursday and Saturday and involved acquiring 855 BTC at an average price of nearly $88,000 per coin. The total expenditure for this buy was approximately $75.3 million, bringing Strategy’s total Bitcoin holdings to 713,502 BTC.
The company’s overall Bitcoin stash was acquired for around $54.26 billion, with an average cost basis of $76,052 per coin. Given the current market price hovering just below $78,000, Strategy’s unrealized gains have contracted to under $3 billion. This represents a significant reduction from last week, when Bitcoin’s price near $90,000 had pushed paper gains close to $8 billion.
The recent price declines were steep and rapid. On Thursday, Bitcoin dropped to $81,000, initiating a correction that intensified over the weekend. By Saturday, bearish pressure had taken full control of the market, driving the price down to $74,400 earlier today. This drop temporarily put Strategy’s Bitcoin holdings into negative territory for the first time since October 2023, highlighting the risks associated with leveraged accumulation during volatile periods.
The company’s stock has mirrored the broader crypto market weakness. Over the past five days, Strategy’s share price has fallen by more than 6%, reflecting both the impact of declining Bitcoin prices on investor sentiment and the correlation between the firm’s stock performance and its crypto holdings.
Despite the shrinking paper gains and heightened short-term volatility, Strategy appears committed to its accumulation plan, signaling confidence in Bitcoin’s long-term trajectory. The firm’s actions underscore a broader trend among institutional investors who continue to view dips as opportunities to expand their holdings rather than indicators to exit the market.
