Strategy adds 196 BTC, Holdings Cross 640,000 Bitcoin

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Bitcoin Finance Corporation’s strategy has just announced its latest purchase, adding $22.1 million worth of assets to its stake.

The strategy has completed another Bitcoin acquisition

Just as it has become a tradition at this point, strategy chair Michael Saylor shared the company’s Bitcoin portfolio tracker on Sunday, this time with the title “Always Stacked” and, as expected, Monday’s buy.

According to Saylor’s X post, the acquisition involved 196 BTC with an average price of $113,048 or a total cost of $22.1 million. This is a relatively small purchase for financial companies. In fact, it was the smallest purchase since August 11, when strategy acquired 155 BTC for $18 million.

According to filings with the Securities and Exchange Commission, the latest purchase occurred between September 22 and 28. Buy sales funding using the company’s STRF, Strd and MSTRAT-The-Market (ATM) stocks.

With new purchases, the strategy has exceeded 640,000 milestones with a total holding of 640,031 BTC. The company’s average cost base is $73,983 and its total investment is $47.35 billion.

Bitcoin has seen a pullback recently, but despite this, the company’s stake holds more than 54% of Health’s unrealized profits, worth about $73 billion.

Although the strategy continues to buy during the recent bearish period, this is not the case for other large entities on the BTC network. As CryptoQuant IT Tech shared in X post, Bitcoin Whale has significantly reduced its holdings over the past few weeks.

The trend in the holdings of the BTC whales over the past year | Source: @IT_Tech_PL on X

The balance of whales is broadly defined as an entity holding more than 1,000 BTC (approximately $114 million). Exchange and mining-related addresses are naturally excluded from the queue.

Judging from the above chart, it is obvious that the total holdings of Bitcoin whale have climbed to August this year. At the end of that month, these huge investors turned the course and started selling.

Since then, the 30-day changes in its holdings have remained negative, and the signal has been continuously distributed. Overall, the whale has stripped 300,000 BTC, worth $34.2 billion. “The transition from accumulation to distribution increases the clear supply of supply overhangs,” analysts noted.

Even the strategy, perhaps the most stable buyer of Bitcoin, has recently dropped its purchase scale, and its last few purchases are smaller than those earlier this year. The reason why BTC is facing a headwind recently.

BTC price

Bitcoin started Monday, trying to recover as its price hit $114,000 after growing more than 3.5% in the past day.

Looks like the price of the coin has shot up in the last 24 hours | Source: BTCUSDT on TradingView

Featured images from dall-e, charts from cryptoquant.com, tradingview.com

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