Major institutions continue to add BTC even during sideways Bitcoin market

Source: DecenterKorea Original Title: Despite Bitcoin Stagnation, Strategy Adds 1229 BTC [Decenter Market Update] Original Link: https://www.decenter.kr/NewsView/2H1XJ5Q46N/GZ03

As of 8 a.m. on the 30th, Bitcoin(BTC) was up 0.18% from the previous day, recording 127,276,000 KRW.

While Bitcoin(BTC) remains range-bound around the $87,000 mark, Strategy, the world’s largest publicly traded Bitcoin(BTC) holder, has begun additional purchases. They continue their BTC holding strategy even during the price correction phase.

According to global cryptocurrency market data on the 30th, BTC was traded at $87,196.61, down 0.44% from 24 hours earlier. Ethereum(ETH) fell 0.10% to $2,936.89. BNB(BNB) declined 0.70% to $852.41, XRP(XRP) dropped 0.58% to $1.850. Solana(SOL) is trading at $123.26, down 0.16%.

The domestic market is also sideways. BTC is up 0.18% from 24 hours earlier, at 12,727,600 KRW. ETH is up 0.61% at 4,281,000 KRW, and XRP is down 0.41% at 2,701 KRW.

According to a report on the 29th(local time), Strategy purchased 1,229 BTC last week for approximately $108 million. The average purchase price was $85,668 per BTC. With this purchase, Strategy’s total BTC holdings increased to 672,497. The total accumulated purchase amount is $5.044 billion. The overall average purchase price is $74,997 per BTC. The funds for this transaction were raised through the sale of 108 million dollars worth of Class A common stock. Meanwhile, the stock price of Strategy on this day was $155.39, down 2.15%.

Cryptocurrency investment sentiment remains in a state of ‘extreme fear.’ The Fear & Greed Index from a cryptocurrency data analysis firm remains at 24 points, the same as the previous day. The index indicates that the closer to 0, the more subdued the investor sentiment; closer to 100 indicates market euphoria.