Strategy Inc. bought 24,869 BTC in its latest weekly purchase, spending a total of $2.01 billion at an average price of $80,985 per Bitcoin. It was the company’s second-largest weekly acquisition on record. After the purchase, an SEC filing showed Strategy’s total Bitcoin holdings had climbed to 843,738 BTC.
That total puts the company ahead of BlackRock’s spot Bitcoin ETF, which previously held about 817,000 BTC. The change makes Strategy the largest institutional holder of Bitcoin reserves cited in the report. The article also noted that, over the past week alone, Strategy bought ten times more Bitcoin than the amount collectively mined during the same period.
Reserve lead grows as Strategy keeps funding purchases
The source describes Strategy Inc. as a U.S. financial firm that has drawn attention for large Bitcoin purchases in recent years. It has raised capital through preferred share issuance under the ticker STRC and has used that funding to keep adding to its Bitcoin position. StoneX Group’s Mark Palmer said most institutional Bitcoin accumulation this year, including ETF-related buying, has been led by Strategy.
Even with that steady buying program, Bitcoin prices still fell sharply in the short term. Last week, BTC slipped back below $80,000 and hit its lowest level in three weeks. On Wednesday, May 20, the cryptocurrency posted daily losses of 4% to 6%, dropping to around $76,593. At one point, it also fell below $77,000. Data cited from CryptoAppsy showed Bitcoin trading around that level during the period.
Treasury yields and ETF outflows weigh on BTC
The report tied the pressure to inflation and expectations that U.S. interest rates will stay high. Persistent inflation and the Federal Reserve’s reluctance to cut rates have reduced risk appetite. The yield on the 30-year U.S. Treasury rose to 5.18%, its highest since 2007, while the 10-year yield hovered near 4.6%. That shift pushed investors toward bonds and cash, adding selling pressure to Bitcoin and other risk assets.
Institutional positioning also weakened. In the last week of May, Bitcoin-linked ETFs saw $1 billion in net outflows. In the spot Bitcoin ETF market alone, one day of selling reached $331 million. Presto Research analyst Min Jung said those outflows pointed to institutions cutting short-term risk as expectations for rate cuts faded.
Traders keep watch on the $74,000 support zone
After the selloff, BTC managed to move back above $77,000. The article said pressure on the dollar could ease if the U.S. 10-year Treasury yield falls into the 3.75% to 4.0% range, which could revive interest in risk assets. Bitcoin’s network fundamentals were described as strong, but confidence among smaller investors has been shaken, leaving the market focused on the $74,000 support level.
Until inflation slows clearly or volatility in the U.S. bond market cools, continued ETF withdrawals may keep Bitcoin trading choppy in the near term.