Michael Saylor’s Strategy acquires $100M in Bitcoin amid Fed rate cut

Michael Saylor’s Strategy, the world’s largest firm Bitcoin holder, added much BTC to its equilibrium expanse past week arsenic the US Federal Reserve chopped involvement rates for the archetypal clip this year.

Strategy acquired 850 Bitcoin (BTC) for $99.7 cardinal during the week ending Sunday, according to a US Securities and Exchange Commission filing connected Monday.

The acquisition was made astatine an mean terms of $117,344 per coin arsenic BTC concisely surged to multiweek highs supra $117,000 past Thursday pursuing the Fed’s 25 ground constituent involvement complaint cut, according to CoinGecko data.

The acquisition brought Strategy’s full Bitcoin holdings to 639,835 BTC, purchased for astir $47.3 cardinal astatine an mean terms of $73,971 per coin.

Ongoing buying slowdown arsenic Bitcoin goes “boring”

Strategy’s latest Bitcoin acquisition continues the inclination of humble acquisitions, highlighting a slowdown compared with the ample buys seen earlier this year.

So acold successful September, Strategy has acquired 3330 Bitcoin, a crisp diminution from the 7,714 BTC bought successful August — itself down 75% from July’s 31,466 BTC.

An excerpt from Strategy’s Form 8-K. Source: SEC

Saylor, who is known for his committedness to buy much Bitcoin astatine higher prices, has made immoderate remarks connected the constricted volatility of Bitcoin observed successful the past months amid increasing organization adoption.

“The conundrum is, well, if the mega institutions are going to enter, if the volatility decreases, it is going to beryllium boring for a while, and due to the fact that it’s boring for a while, people’s adrenaline unreserved is going to drop,” helium said successful an interrogation past week.

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