Strive added more to its position again within the week.
According to SEC filings, this Bitcoin reserve company bought 1,355 BTC between September 14 and 18 at an average price of about $79,500 per BTC (including fees). Its holdings increased from 25,000 BTC to 26,355 BTC, and its cash reserves also rose by $25.4 million to $229.6 million. Market interpretations are broadly bullish on BTC: such treasury share purchases by listed companies will continue to reinforce the narrative of “institutional buy-side support,” especially during periods of consolidation at higher levels, where they can help stabilize expectations for longer-term holdings. In the short term, this is not a buy that independently changes the trend, but it may make bears more cautious during pullbacks. The key thing to watch is whether BTC can volume up and hold onto the resistance/consolidation zone at high levels.
The most direct signal of this kind of accumulation is that institutions’ treasuries continue to treat BTC as part of long-term allocations. Another observation point is that during high-level consolidation, ongoing purchases by listed companies often make the market more confident in the strength of the bid/absorption. However, this does not necessarily mean the trend will reverse immediately. Are you more concerned with whether BTC can continue to hold the high-level absorption, or are you more focused on the persistence of these treasury buys?
Source: PANews
#BTC
Figure 1: Strive’s weekly increase of 1,355 BTC · Source: partial screenshot of the page
Image source: https://www.panewslab.com/zh/articles/01a0c3de-8b62-7510-8ea4-1660d602a8a8
According to SEC filings, this Bitcoin reserve company bought 1,355 BTC between September 14 and 18 at an average price of about $79,500 per BTC (including fees). Its holdings increased from 25,000 BTC to 26,355 BTC, and its cash reserves also rose by $25.4 million to $229.6 million. Market interpretations are broadly bullish on BTC: such treasury share purchases by listed companies will continue to reinforce the narrative of “institutional buy-side support,” especially during periods of consolidation at higher levels, where they can help stabilize expectations for longer-term holdings. In the short term, this is not a buy that independently changes the trend, but it may make bears more cautious during pullbacks. The key thing to watch is whether BTC can volume up and hold onto the resistance/consolidation zone at high levels.
The most direct signal of this kind of accumulation is that institutions’ treasuries continue to treat BTC as part of long-term allocations. Another observation point is that during high-level consolidation, ongoing purchases by listed companies often make the market more confident in the strength of the bid/absorption. However, this does not necessarily mean the trend will reverse immediately. Are you more concerned with whether BTC can continue to hold the high-level absorption, or are you more focused on the persistence of these treasury buys?
Source: PANews
#BTC
Figure 1: Strive’s weekly increase of 1,355 BTC · Source: partial screenshot of the page
Image source: https://www.panewslab.com/zh/articles/01a0c3de-8b62-7510-8ea4-1660d602a8a8
