In a bold move that underscores its unwavering confidence in the world’s leading cryptocurrency, Strategy has announced another massive purchase of Bitcoin, despite prices soaring to new all-time highs. Over a span of just a week—from July 7th to July 13th—the firm acquired 4,225 BTC, shelling out approximately $472.5 million, according to a recent SEC filing. This purchase comes as Bitcoin recently hit an astonishing $123,000, though it has since retraced slightly to $119,900.
Strategy’s Steadfast Accumulation
Bitcoin’s meteoric rise hasn’t deterred Strategy from expanding its digital asset portfolio. Michael Saylor, Strategy’s charismatic chairman, took to social media platform X to reveal the latest acquisition, which brings the company’s total Bitcoin holdings to an impressive 601,550 BTC. The firm’s conviction in Bitcoin’s value proposition appears unshaken, even as the asset trades at unprecedented levels. This follows a pattern of institutional adoption, which we detailed in Coinbase, Strategy, Other Bitcoin and Crypto Stocks Soar in Record-Setting Week.
Saylor, known for his bullish stance on Bitcoin, quipped, “Short Bitcoin if you hate money,” in a previous post, highlighting his belief in Bitcoin’s long-term potential. His company’s recent purchase reflects this view, having invested around $42.87 billion to amass its current holdings, which are now valued at approximately $72.25 billion—a staggering 68.5% profit.
Market Dynamics and Whale Activity
The acquisition frenzy isn’t exclusive to Strategy. Another notable player, Metaplanet, led by CEO Simon Gerovich, also bolstered its reserves with an additional 797 BTC, taking its total to 16,352 BTC. While Metaplanet’s average cost per Bitcoin is higher at $100,191, both firms’ activities illustrate a growing institutional appetite for the digital currency. Metaplanet’s strategic moves are further exemplified by its recent actions, as discussed in Metaplanet Moves On Digital Bank Acquisition As It Scales Bitcoin Strategy.
Interestingly, while these corporate giants continue their buying spree, the crypto market exhibits a complex dance between accumulation and distribution. On-chain data from Glassnode reveals that smaller investors, previously in a selling phase, are now jumping back into the market. The “Accumulation Trend Score,” which gauges buying versus selling behavior, shows retail investors have started accumulating, a shift likely fueled by Bitcoin’s recent rally.
However, it’s not all bullish across the board. The so-called “mega whales,” entities holding more than 10,000 BTC, remain in selling mode, with a trend score hovering around 0.3. This divergence in behavior among different investor cohorts could be a harbinger of volatility ahead.
Looking Ahead: Market Implications
As Bitcoin flirts with its new price highs, questions linger about the sustainability of this upward trajectory. While the entry of retail and institutional investors into the market is a positive sign of confidence, the thin liquidity—a warning flagged by Glassnode—could pose challenges. This liquidity crunch may lead to heightened price swings, adding layers of complexity to the market’s near-term outlook.
The juxtaposition of fervent buying by big players like Strategy and Metaplanet against the backdrop of cautious selling by mega whales paints a nuanced picture of the current market dynamics. Whether this trend of accumulation will continue, or if the market will see a pullback as some analysts suggest, remains an open question as we move deeper into 2025.
In a world where economic uncertainties abound, Bitcoin’s role as a hedge—akin to digital gold—could further bolster its appeal. However, investors must remain vigilant, as the crypto landscape is ever-evolving, with new challenges and opportunities emerging at every turn. As Strategy’s recent actions show, those with a strong conviction in Bitcoin’s future are willing to bet big, regardless of the price tag.
Source
This article is based on: Strategy Grabs Another $472M In Bitcoin—Even With Price At ATH
Further Reading
Deepen your understanding with these related articles:
- Short Whale Liquidated for Over $50M as Bitcoin (BTC) Surged to New ATH (Market Watch)
- Bitcoin Market Top Is ‘Nowhere Near,’ Say Analysts as Price Pauses at $120K
- Bitcoin Consolidates Below All-Time High as Spot Market Drives Momentum
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
