Strategy Chairman Michael Saylor has signaled that new purchases may be on the agenda following the recent pullback in Bitcoin price.
After Bitcoin dropped to $87,600 on Sunday night, reaching its lowest level in two weeks, Saylor indicated further Bitcoin buying with a statement on the X platform: “more orange dots are reappearing.”
These types of posts are known to be messages that Saylor has used in the past before large-scale acquisitions.
Strategy made its largest single Bitcoin purchase since the end of July on December 12th, buying 10,624 BTC. The company’s total Bitcoin holdings have now reached 660,624 BTC.
At current prices, this amount is worth approximately $58.5 billion. Strategy’s average Bitcoin purchase cost is reportedly $74,696. This size makes the company one of the world’s largest institutional Bitcoin investors.
The recent selling pressure in the market is said to be influenced by global macroeconomic developments. Some analysts point out that expectations regarding the Bank of Japan’s (BoJ) interest rate policy, in particular, are putting pressure on risky assets. The forecasting platform Polymarket is pricing in a 98% probability of the BoJ raising interest rates by 0.25% this Friday.
Justin Danetan, Research Director at Arctic Digital, stated that the expected interest rate hike in Japan has prompted investors to act cautiously and accelerated short-term profit-taking. On the other hand, some market analysts argue that this interest rate increase has largely already been priced in, predicting that a search for a new equilibrium may begin in Bitcoin.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/strategy-ceo-michael-saylor-has-given-a-buy-signal-for-bitcoin-here-are-the-details/
