As institutional investors continue to increase their influence in the cryptocurrency market, US-based technology company Strategy is believed to have once again purchased a large amount of Bitcoin.
According to a report published by the crypto media outlet Bitcoin Magazine, the company is estimated to have purchased approximately 2,500 more BTC today.
According to the report, the acquisition may have been financed with proceeds from sales made under Strategy’s perpetual preferred stock program.
The company’s recently launched STRC Perpetual Preferred Stock program allows investors to use a portion of their capital to purchase Bitcoin.
MicroStrategy has long been one of the leading institutional firms that has placed Bitcoin at the center of its balance sheet. Through large-scale purchases over the years, the company is known as the world’s largest institutional Bitcoin holder. Therefore, Strategy’s new acquisitions are closely watched in the crypto market.
The report also highlighted a remarkable increase in trading volume for STRC shares. It stated that on the last trading day in mid-March, the daily trading volume of STRC shares reached new record levels consecutively. Furthermore, it was noted that even though the trading day on March 13th had not yet concluded, the volume had already reached high levels.
Analysts note that Strategy’s continued Bitcoin purchases through such financing methods indicate sustained institutional demand. According to experts, the company’s aggressive accumulation strategy is considered a significant example of Bitcoin being viewed as a long-term store of value.
*This is not investment advice.