Bitcoin (BTC) experienced a dip of more than 2% on Monday, but institutional investors remained unfazed, using the decline as a buying opportunity. Strategy Chairman Michael Saylor announced the purchase of 430 BTC for approximately $51 million, while Metaplanet President Simon Gerovich disclosed the acquisition of 775 BTC for roughly $93 million. Both companies continue to execute their 'buy the dip' strategy, demonstrating strong conviction in Bitcoin's long-term value.
Institutional Buying Spree
Bitcoin had surged last week following lower-than-expected consumer inflation data, coming within striking distance of its all-time high. However, a subsequent wholesale inflation report showed a record jump, damping momentum. While skittish traders triggered a sell-off, institutions recognized the opportunity. Regulatory records reveal that as of June 2025, the nearly $2 trillion Norwegian Government Pension Fund (GPFG) increased its Bitcoin exposure by approximately 83%, primarily by acquiring MSTR stock. Strategy now holds 629,376 BTC, and Metaplanet's treasury continues to grow.
'I hear the disappointment in the recent pullback. It's natural to feel that way,' Gerovich explained in a post on X. 'But what gives us conviction is the foundation we are building. Let's review the milestones we've reached together, because over time fundamentals prevail.'
Market Metrics Overview
At the time of reporting, Bitcoin was priced at $116,028.63, down 1.69% over the past 24 hours and 3.26% over seven days, according to Coinmarketcap data. The cryptocurrency traded in a range between $114,723.68 and $118,073.96. Trading volume surged 62.22% to $69.23 billion, while market capitalization fell 1.64% to $2.31 trillion. Bitcoin dominance rose 0.70% to 59.82%, as the digital asset continued to outperform the broader crypto market, which was down 2.61% on the day.
Total Bitcoin futures open interest remained mostly flat at $82.94 billion, a slight 0.13% uptick. Liquidations reached $130.43 million, with long positions accounting for $123.01 million, while bears saw only $7.42 million wiped out. The data reflects a market leaning on bullish sentiment despite short-term volatility.