Strategy bought 267 BTC this week
- Bought 267 BTC in a single week while spending $193 million to buy back STRC preferred shares. Cash is being prioritized to cover preferred stock’s face value, and the pace of accumulation has fallen from the thousands to the hundreds.
- Holds 848,517 BTC and another $5.3 billion in dollar-denominated assets. It still has firepower, but marginal buying is providing noticeably less support for spot prices.
Near-term, the bias is toward choppy trading and a pullback. After Strategy’s weekly purchases fell to 267 BTC, BTC has less incremental buying power to support its price. We’ll have to see whether ETF flows and perpetual futures funding rates can pick up the slack. There’s room to move higher again as long as the pullback holds key support. For those of you holding positions, are you buying more or trimming on this pullback?
$BTC $ETH $SOL
- Bought 267 BTC in a single week while spending $193 million to buy back STRC preferred shares. Cash is being prioritized to cover preferred stock’s face value, and the pace of accumulation has fallen from the thousands to the hundreds.
- Holds 848,517 BTC and another $5.3 billion in dollar-denominated assets. It still has firepower, but marginal buying is providing noticeably less support for spot prices.
Near-term, the bias is toward choppy trading and a pullback. After Strategy’s weekly purchases fell to 267 BTC, BTC has less incremental buying power to support its price. We’ll have to see whether ETF flows and perpetual futures funding rates can pick up the slack. There’s room to move higher again as long as the pullback holds key support. For those of you holding positions, are you buying more or trimming on this pullback?
$BTC $ETH $SOL