Strategy makes big bitcoin buy after period that ranked “among the worst weeks of the decade”

From sherwood.news

Strategy announced it bought 1,550 bitcoin for $101 million, quelling fears that it would sell again and drive the price and sentiment down for the asset. Last week was bitcoin’s worst week since “the 2024 yen-carry unwind, falling 12.6%, while more than $5.7 billion in long positions were liquidated over seven days,” Timothy Misir, head of research at Blockhead Research Network, said. The company acquired its latest stash for an average bitcoin price of $65,332 and now holds a total of 845,256. It also said it had increased its cash reserve by $100 million to $1 billion. Additionally, Strategy closed voting on ... (full story)