Strategy Buys 10,100 BTC for $1 Billion Amid Geopolitical Tensions

Strategy, the world’s largest corporate holder of Bitcoin, has disclosed its latest Bitcoin purchases, acquiring 10,100 BTC for $1 billion during the week ending June 15. This move comes amidst escalating geopolitical tensions in the Middle East, particularly between Israel and Iran, which have put significant pressure on global markets.

The purchases were made at an average price of $104,080 per coin. Bitcoin's price had dropped from $110,000 last Monday to an intraweek low of $103,639 on June 12, following reports of Israeli strikes on Iranian nuclear facilities. This acquisition marks Strategy’s second Bitcoin purchase in June, bringing its total holdings to 592,100 BTC, acquired for approximately $41.8 billion at an average price of $70,666 per coin.

Strategy’s latest Bitcoin-backed preferred stock, STRD, began trading on the Nasdaq on June 11. With STRD, Strategy aims to raise $250 million through an initial public offering of a new class of perpetual preferred stock to buy more Bitcoin. As part of the STRD raise, Strategy will issue 2.5 million shares of its 10% Series A Perpetual Stride Preferred Stock at $100 per share.

Strategy’s decision to increase its Bitcoin holdings by $1 billion during a period of heightened geopolitical tensions underscores the firm's confidence in the long-term value of the digital asset. Despite the market volatility caused by the Israel-Iran conflict, Strategy’s move reflects a bullish outlook on Bitcoin. The firm’s total Bitcoin holdings now stand at 592,100 BTC, acquired for approximately $41.8 billion at an average price of $70,666 per coin.

Bitcoin’s resilience in the face of geopolitical turmoil is evident in its ability to maintain a position above $105,000. The cryptocurrency market has experienced significant volatility due to the Israel-Iran conflict, but Bitcoin has remained stable, bolstered by strong institutional buying. Traders have been exercising caution, with many opting to protect their positions by purchasing more BTC puts, which now cost more than calls. This indicates increased apprehension about a potential market downturn.

Several positive developments have helped stabilize Bitcoin’s price. Michael Saylor’s advisory role in Pakistan’s crypto policy has sparked optimism, as the country looks to create its own Bitcoin reserve and launch a national crypto council, boosting confidence. Galaxy Research has also cooled fears over Bitcoin’s OP_Return spam concerns, with Alex Thorn calling the panic exaggerated and instead pushing focus toward meaningful upgrades like CheckTemplateVerify. Additionally, Bybit announced its new decentralized exchange, Byreal, built on Solana, highlighting growing innovation in the DeFi space. Together, these updates have helped support Bitcoin’s stability despite global uncertainty.

Gold is also rising, hitting $3,447 as investors seek safety. Japan’s Nikkei 225 stock index climbed 0.87%, showing mixed global reactions. Overall, the crypto market is showing resilience. With institutional support for Bitcoin, fresh government interest from Pakistan, and new DeFi projects like Byreal, the space is holding up well despite global uncertainty.