MicroStrategy Bought Another 1.142 BTC: Total 714K BTC

MicroStrategy Continues BTC Purchases

MicroStrategy, the world’s largest publicly traded Bitcoin holder, purchased 1,142 Bitcoin (BTC) last week according to a notification to the U.S. Securities and Exchange Commission (SEC). The purchase was made for 90 million dollars at an average price of 78.815 dollars/BTC, raising the company’s total BTC holdings to 714.644. The total purchase cost is approximately 54,35 billion dollars, with the average price remaining at 76.056 dollars/BTC.

Source: SEC

Bitcoin price traded below the purchase level for most of the week, fell to 60.000 dollars on Coinbase on Thursday, and has not exceeded 72.000 dollars for a week. This was the second purchase made by MicroStrategy at BTC prices below its average cost. In 2022, in a similar situation, the company had slowed down its purchases. MicroStrategy (MSTR) stock fell to 107 dollars on Thursday, and closed at 135 dollars on Friday, up 26 percent.

Bitcoin price versus Strategy’s average purchase price. Source: SaylorTracker

Source: Breadman

Other Institutions Continue Accumulating BTC

In parallel with these purchases, the Binance SAFU Fund added 4.225 BTC (299,6 million dollars) to bring its total to 10.455 BTC (734 million dollars). Cango Inc. (NYSE:CANG) announced a 305 million dollar BTC purchase. Additionally, Garrett Jin deposited 5.000 BTC (351 million dollars) to Binance. These developments show confidence in institutional demand for BTC detailed analysis.

BTC Technical Outlook and Support Levels

Current BTC price is 68.505 dollars, down -3,78% in 24 hours. RSI 32,27 (oversold), EMA 20: 78.101 dollars. Strong supports: 60.000 dollars (69/100) and 65.842 dollars (68/100). Resistances: 70.934 dollars (75/100). BTC futures giving downtrend signal, but institutional purchases could trigger recovery. Follow for BTC spot analysis.