Strategy's Bitcoin Buying Spree: $31B Investment, $15B Profit

Strategy (MSTR), the world's first and largest Bitcoin (BTC) treasury company, has announced a significant surge in its Bitcoin purchases. Between February 3 and 9, the company acquired approximately 7,633 Bitcoins, using the proceeds from a stock sale and a public offering of preferred stock. This acquisition brings Strategy's total Bitcoin holdings to 478,740, valued at over $46 billion at the current price of around $97,000 per Bitcoin. The company has spent approximately $31.1 billion on these acquisitions, resulting in an unrealized profit of over $15 billion.

The strategic acquisition of Bitcoins by Strategy has had a positive impact on the cryptocurrency market. The company's influence has led other global companies, such as Tokyo-based Metaplanet Inc. and India's JetKing, to follow suit, contributing to a decline in the supply of Bitcoins for sale. Additionally, more investors are speculating on the inevitable adoption of Bitcoin by nation-states, particularly the United States. As a result, Bitcoin price is expected to follow Gold price action in the near future, fueled by institutional investors. The Bitcoin price has established a solid support range between $91,000 and $108,000.