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Bitcoin price up after Strategy buys $1.3bn in biggest haul since July
The price of Bitcoin rose back above $95,000 on Wednesday after Strategy purchased another $1.3 billion of the top crypto in its largest haul since July.Strategy’s shares, widely seen as a leveraged bet on Bitcoin price, jumped 7% on the news.The crypto treasury firm now holds $66 billion in Bitcoin, at an average purchase price of about $75,000, according to its Securities & Exchange Commission filing.It is currently sitting on about $14 billion in unrealised profit, according to the filing.Strategy funded the massive play by selling over $1 billion in new shares of its company stock directly to investors on the open market, rather than deploying the cash on its balance sheet.
Adding to the positive price action, spot Bitcoin exchange-traded funds on Tuesday posted the largest single-day inflows since October at $754 million, data compiled by DefiLlama shows.BlackRock’s flagship IBIT product led the charge at $127 million.
Saylor holds firmTo be sure, many digital asset treasury companies have been hit by falling crypto prices in recent months.Nearly 40% of the top 100 Bitcoin treasuries are trading at a discount — the key metric that permits them to raise more capital to fund their Bitcoin buys — and more than 60% have bought Bitcoin at higher prices than today.But Michael Saylor, the executive chairman of Strategy, has maintained his bullishness on Bitcoin.
In an interview on Monday with podcaster Danny Knowles, he slammed the criticism of the sustainability of treasury companies’ business models.In December,
Strategy announced that it had built a $1.4 billion cash reserve to shield itself from dramatic market swings like the ones in recent months.Adding to the firm’s long-term playbook, chief executive Phong Le predicted that 2026 will unleash a wave of Bitcoin buying by national treasuries seeking to diversify their savings.“If I look at 2026, I’m pretty excited. #BTCVSGOLD #BTC走势分析 #btc70k
