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Strategy’s Relentless Bitcoin Run Hits 12 Weeks: Is There an End?
As the crypto market continues to exhibit unpredictable patterns, one company has been steadily accumulating Bitcoin at a pace that is leaving many in awe. Strategy, formerly known as MicroStrategy, has now completed its twelfth consecutive weekly Bitcoin purchase since April. This unprecedented buying spree has pushed its total holdings to 597,325 BTC worth approximately $42.40 billion.
The recent acquisition of 4,980 BTC for $531.9 million at an average price of $106,801 per Bitcoin highlights Strategy’s unwavering commitment to growing its Bitcoin reserves despite market fluctuations. This strategy, or lack thereof, has garnered considerable attention within financial and crypto circles.
Strategy’s consistent purchases have allowed the company to issue BTC-backed securities to raise capital for ongoing purchases. This innovative approach enables the firm to expand its Bitcoin position without liquidating other assets, allowing for a more sustained and structured acquisition plan.
The stock price of MSTR, which tracks Strategy’s performance, has surged by over 181% in the past year. The company’s adoption of Bitcoin accumulation in 2020 has allowed it to outpace significant assets in the market.
Market analysts note that BTC gains continue to drive strong investor interest in MSTR, as the asset continues to defy expectations and climb steadily. This relentless Bitcoin run is poised to continue for the time being, but experts are hesitant to predict an end to this unprecedented surge just yet.
Source: coincentral.com
