MicroStrategy, now rebranded as Strategy, is expected to continue buying Bitcoin next week as its founder, Michael Saylor, hinted at a new crypto purchase.
As per the latest snapshot shared by Saylor, Strategy currently holds 576,230 BTC, valued at around $62 billion. The upcoming purchase will mark the seventh consecutive weekly buy for the company.
Each time Strategy has made a purchase, it has led to a short-lived boost in the market, with Bitcoin hitting a new all-time high before retracing. Current prices are hovering near $106K, reflecting a 5% drop over the past week.
Analysts anticipate that another purchase by Strategy could potentially drive prices higher. While institutional demand plays a significant role, broader adoption and regulatory clarity are essential for stabilizing Bitcoin's volatility and driving long-term growth.