Strategy has significantly increased its bitcoin holdings after the successful STRC IPO, while the number of large wallets continues to decline.
STRC IPO and Bitcoin Acquisition
At the STRC IPO, Strategy raised $2.47 billion by issuing shares at $90 each. The entire amount was used to purchase 21,021 bitcoins at an average price of $117,256. Now, Strategy holds 628,791 BTC valued over $46.8 billion at an average cost of $73,227 per bitcoin.
Market Analysis of Cryptocurrency
Data from Alphractal shows that the number of bitcoin wallets holding over 10,000 BTC has dropped to below 90, a level not seen in years. This decrease occurs alongside rising prices and increasing retail interest, raising concerns about asset distribution. Analysts warn that such divergence may indicate weakening long-term support.
Outlook and Risks for Crypto Investment Strategy
As of July 29, bitcoin trades near $117,212, matching the average price paid by Strategy in its latest purchases. The firm has reported a 25% year-to-date return on its bitcoin holdings, validating its accumulation strategy. However, macroeconomic uncertainties and increased altcoin activity may lead to market volatility.
Strategy takes an active position in accumulating bitcoins despite the reduction in major holders. The company's approach to crypto investment may continue to be successful in a landscape filled with market uncertainties.
