Bitcoin News Today:

Michael Saylor’s Strategy, the world’s largest public company holding Bitcoin, added another $449.3 million in Bitcoin purchases last week, increasing its total holdings to 636,505 BTC at an average cost of $73,765 per coin. The latest acquisition, which consisted of 4,048 BTC, was executed at an average price of $110,981 per coin, according to an SEC filing on Tuesday [1]. This purchase was made as Bitcoin fluctuated between $108,000 and $113,000, with the cryptocurrency ultimately settling just below the $108,000 level by Friday [1]. Strategy’s total Bitcoin purchases in August now amount to 7,714 BTC, a sharp decline from the 31,466 BTC bought in July [1].

The firm’s latest Bitcoin acquisition followed smaller but consistent buys earlier in the month, including a 3,081 BTC purchase, a 430 BTC purchase, and a 155 BTC acquisition. The funds for these purchases came from the STRF ATM, STRK ATM, STRD ATM, and MSTR ATM, indicating ongoing financial flexibility and a strategic commitment to Bitcoin [1]. Despite the recent pullback in Bitcoin’s price, Strategy has maintained its aggressive buying strategy, reflecting a belief in the long-term value of the asset. The company’s Bitcoin holdings are now valued at approximately $46.95 billion, demonstrating its significant exposure to the cryptocurrency market [1].

Meanwhile, the broader Bitcoin ETF landscape has seen a mixed performance. U.S. spot Bitcoin ETFs recorded their first weekly outflows since June, with a total of $126.64 million in redemptions reported for August 29 [2]. This marked a reversal from the strong inflows seen in previous months, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) experiencing the largest outflow of $66.2 million, followed by ARK Invest and 21Shares’ ARKB with $72.07 million [2]. Despite these outflows, BlackRock’s iShares Bitcoin Trust (IBIT) continued to attract investors, adding $24.63 million in new inflows and maintaining its position as the largest Bitcoin ETF with $80.98 billion in assets [2].

The overall assets under management (AUM) for spot Bitcoin ETFs dropped to $139.95 billion, representing 6.52% of Bitcoin’s market capitalization [2]. Analysts attributed the recent outflows to profit-taking and broader market corrections following the summer rally. The trend was not unique to Bitcoin, as Ethereum ETFs also experienced outflows, with Ethereum products seeing $164.64 million in redemptions in a single day [2]. However, despite these outflows, Ethereum ETFs have still attracted $13.5 billion in net inflows since their launch, with BlackRock’s ETHA leading the way [2].

In contrast to the ETF outflows, overall crypto investment products have seen continued inflows. According to CoinShares, crypto ETPs recorded $2.48 billion in inflows last week, offsetting the $1.4 billion outflows from the prior week [3]. Despite Bitcoin’s price drop below $108,000, spot Ethereum ETFs remained dominant, attracting $1.4 billion in inflows compared to $748 million for Bitcoin funds [3]. The cumulative inflows for the year have driven crypto fund AUM to $219 billion, despite a 7% drop in value over the week [3]. This growth reflects strong institutional interest, particularly in Ethereum, which continues to outperform Bitcoin in terms of ETF inflows.

Looking ahead, the market will be watching closely for signs of renewed buying pressure. Analysts have noted that Bitcoin’s ability to hold key support levels around $112,000–$115,000 will be critical in determining whether the current correction will lead to a deeper pullback or a sustained recovery [2]. With Strategy continuing to accumulate Bitcoin and institutional custody services expanding—most notably through firms like Anchorage Digital and Galaxy Digital—the long-term outlook for Bitcoin remains positive [4]. The combination of ETF inflows, whale accumulation, and growing institutional adoption suggests that Bitcoin’s recent price action could mark the beginning of a more durable upward trend.

Source:

[1] Strategy adds $449M in Bitcoin, raising August total to 7.7K ... (https://cointelegraph.com/news/michael-saylor-strategy-buys-4048-btc-bitcoin-holdings-636505)

[2] Bitcoin ETFs Bleed $126.7M in First Weekly Outflows Since June (https://finance.yahoo.com/news/bitcoin-etfs-bleed-126-7m-125500539.html)

[3] Crypto funds see $2.5B inflows despite falling BTC, ETH ... (https://cointelegraph.com/news/crypto-etp-inflows-2-48b-bitcoin-ether-etf-dominance)

[4] Bitcoin is Back Above $110000 as ETF Inflows and ... (https://cryptodnes.bg/en/bitcoin-is-back-above-110000-as-etf-inflows-and-custody-growth-fuel-gains/)