Bitcoin has recently been testing new all-time highs (ATHs), but the company Strategy remains focused on accumulating more of the cryptocurrency, having announced another significant purchase.
In a post on X, Strategy Chairman Michael Saylor revealed that the firm has acquired an additional 4,225 Bitcoin as part of its ongoing strategy to enhance its holdings. This latest acquisition brings the total number of Bitcoin owned by the company to 601,550 BTC. The purchase, which occurred between July 7 and July 13, was made at an average cost of $111,827 per Bitcoin, totaling approximately $472.5 million.
Despite Bitcoin reaching new ATHs during this acquisition period, it appears that Strategy is undeterred by the rising prices. Saylor previously stated, “Short Bitcoin if you hate money,” reinforcing the company's bullish outlook. The company has invested around $42.87 billion in its Bitcoin reserves, which are now valued at $72.25 billion, reflecting a notable profit of 68.5%.
In related developments, another company, Metaplanet, has also expanded its Bitcoin holdings. CEO Simon Gerovich announced via X that Metaplanet has added 797 BTC to its reserves, increasing its total to 16,352 BTC. However, unlike Strategy, Metaplanet's average acquisition cost currently stands at a higher rate of $100,191 per Bitcoin.
On a broader market scale, while major institutional investors have been accumulating Bitcoin, recent data from on-chain analytics firm Glassnode indicates that retail investors are now entering the market as well. The Accumulation Trend Score, which measures whether Bitcoin investors are accumulating or distributing their assets, shows that large holders, often referred to as whales, are exhibiting a nearly perfect accumulation trend.
Conversely, while whales have been actively buying, other segments of the market appear to be leaning towards distribution. Mega whales, who control more than 10,000 BTC, have maintained a selling posture with an Accumulation Trend Score around 0.3. Recently, retail investors, who previously were in a distribution phase, seem to be shifting their strategy, joining the buying trend amid this latest rally.
As for Bitcoin's price, it briefly surged to $123,000 but has since experienced a pullback, currently trading at approximately $119,900.
