Institutional investment firm Strategy announced that it purchased a total of 397 Bitcoin (BTC) from October 27th to November 2nd. The company's average purchase price was $114,771, and the total investment was recorded at $45.6 million.
I mentioned on the morning news that a purchase could be made.
Strategy purchases 397 Bitcoin worth $45.6 million
This purchase shows that Strategy remains confident in Bitcoin despite increased market volatility in recent weeks. The company previously said in its quarterly report that it views digital assets as a long-term strategic reserve.
According to market data, Bitcoin has been trading in the range of $110,000 to $115,000 in recent days, with many institutional investors viewing the price correction as a buying opportunity. Strategy's recent acquisition is seen as part of this trend.
Experts say that regular Bitcoin purchases by Strategies are a key indicator of growing interest in crypto assets by institutional investors. Demand for spot Bitcoin ETFs is increasing, especially in the United States, and the influx of institutional capital into the cryptocurrency market is accelerating.
Strategy's move is part of the company's goal to expand its digital asset portfolio in the final quarter of this year. Analysts note that similar institutions will continue to use the potential fall in Bitcoin prices as a strategic accumulation opportunity.
*This is not investment advice.
