Strategy Signals Additional Bitcoin Purchase
Summary
- Michael Saylor posted a message signaling Strategy’s additional Bitcoin purchase.
- Strategy is currently the world’s largest publicly traded Bitcoin holder, with 843,738 BTC bought at an average price of $75,701.
- Adam Back said Bitcoin’s 200-week moving average (MA) has climbed above $61,000 and that the long-term bullish trend remains intact.
Forecast Trend Report by Period
Strategy Chairman Michael Saylor has signaled another Bitcoin purchase.
Cointelegraph reported on May 31 that Saylor posted a chart on X showing Strategy’s Bitcoin purchase history alongside the phrase “Working Better.”
Saylor has posted similar messages before announcing additional Bitcoin purchases, and the market is reading the latest post as a sign of another buy.
Strategy currently holds 843,738 BTC, making it the world’s largest publicly traded corporate holder of Bitcoin. Its average purchase price is $75,701.
Bitcoin has come under pressure recently. The cryptocurrency is down about 3.6% in May, according to CoinMarketCap, and was trading in the $73,000 range.
Separately, Blockstream CEO Adam Back said Bitcoin’s 200-week moving average has risen above $61,000.
The 200-week moving average is one of the main technical indicators used to assess long-term trends. Back said its steady climb shows Bitcoin’s long-term bullish trend remains intact.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
