Strategic Impact on the Bitcoin (BTC) Market After Acquisition of 6,911 BTC
After acquiring an additional 6,911 BTC, the strategy impacted the Bitcoin (BTC) market. The new inflow occurred between March 17 and March 23, with an average price being lower.
The strategy, which is the primary buyer of its company’s treasury Bitcoin (BTC), acquired 6,911 BTC between March 17 and March 23. Following a previous smaller purchase of 130 BTC, the company seems to have returned to larger inflows.
The BTC was acquired at an average price of $84,529, totaling $584.1 million. The strategy took advantage of its funds to purchase the dip, as BTC hovered below $85,000 during the recent market recovery. It also confirmed the purchase and its prospects as a long-term holder.
Strategy Remains Committed to BTC Plan
The BTC acquisition was highlighted, aside from the SEC, alongside the latest reports on the sale of preferred and common shares. Following the latest BTC purchase news, MSTR stock appreciated to $304.00, recovering to the mid-range of its range over the past six months.
Just a day before the announcement of the purchase, the company’s executive chairman, Michael Saylor, hinted at further purchases by posting a BTC chart.
“We need more orange.”
— Michael Saylor⚡️ (@saylor), March 23, 2025
Saylor also predicted that BTC is preparing for the next phase of its bull market, potentially reaching a price of $444,000.
The strategy continues to buy under varying market conditions and may still break its average price. The purchases occurred as crypto and BTC sentiment rose from the lows, potentially setting up for another rally. Prior to the latest purchase, the strategy had acquired a total of 499,226 BTC, making it one of the largest individual holders. The company’s wallet remains opaque or publicly unknown.
The recent acquisition came during the newly launched preferred share offering, which facilitated its BTC purchase plan. The strategy remains a long-term holder with an average BTC purchase price of $66,406. In the short term, announcements made weekly or bi-weekly always add to the BTC rally, unless it buys at the peak.
The strategy will hold over 500k BTC for the first time in its history. | Source: Bitcoin Treasury
During the recent purchase period, the strategy also sold a total of 13,100 shares of Strk stock, which had no significant contribution to the recent BTC purchase. The initial sale of preferred stock brought in $1.1 million. As of March 23, according to demand, the remaining stock has a remaining share value of $20.99. The stock sale plan suggests the strategy has a long-term outlook for its BTC treasury, as the proceeds will be used for new purchases.
The recent BTC purchase was made with the proceeds from the issuance of Strk common stock, including some proceeds from Strk Preferred stock. This brings the strategy’s total BTC holdings to 506,137 coins, with a total acquisition cost of $33.7 billion. The company now holds over 500k BTC for the first time in its history.
Latest Purchase Shifts Market Sentiment
With the latest purchase, the strategy has shifted the sliding market sentiment. BTC has moved away from its low point, but the updated purchase may signal a new upward leg. BTC has recovered from the weekly held range of $80,000 to $85,000, reaching $87,444.21. Since the strategy completed the purchase, the recovery rate has exceeded $85,000.
BTC open interest has also recovered to $26B, signaling updated leveraged positions. BTC continues to feel pressure from the derivatives market, so the purchase strategy may be limited. Currently, BTC is at a crossroads, rebuilding both long and short positions.
The behavior of traders also caused Bitcoin’s fear and greed index to rise by 15 points to 45, moving away from the extreme fear zone.
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