Strategic Accumulation Resumes: 2,486 BTC Scooped Up Below Average Cost

Buying pressure returns to the Bitcoin market as a major player executes a disciplined accumulation strategy.

The Bottom-Fishing Play

A single strategy just deployed capital to purchase 2,486 Bitcoin. The critical detail? Every coin was acquired at a price point below the strategy's calculated average cost basis. This isn't reckless buying; it's a calculated move to lower the breakeven point on a substantial position.

Reading the Tape

This kind of action signals conviction. It's the institutional equivalent of "buying the dip," but with the cold precision of a spreadsheet. While retail traders panic over hourly charts, this entity sees discounted assets and acts. It’s a stark reminder that while everyone’s watching price, smart money is focused on cost basis—a boring metric that ultimately determines who wins and who gets liquidated.

The Bigger Game

Resuming accumulation after a pause suggests a view that current prices represent value, not just short-term opportunity. It’s a bet on the long-term thesis, not tomorrow’s pump. Of course, in traditional finance, they'd call this 'dollar-cost averaging' and charge you a 2% management fee for the privilege. In crypto, you just watch the wallets and follow the smart money.

One entity's cost-averaging is another's market signal. The accumulation is back on.

Strategy still relies on STRC

The latest BTC purchase arrives after a week of successful raises through the STRC preferred stock. 

This time, the bank holiday prevented Strategy from filing its usual 8-K form, outlining the methods of raising funds. In the past week, Strategy managed to sell STRC as prices moved above $100, boosting its ability to buy more BTC. 

The previous week, Strategy acquired BTC by still using its MSTR common stock ATM facility, while waiting for a STRC selling chance. The company expanded the information on STRC with a recent short tear sheet on the preferred stock. 

Following the latest purchase, MSTR hovered at $128.62, while BTC traded at $67,324.22. Following Strategy’s announcement, BTC once again dipped to the $66,000 range.

Strategy remains the only treasury company to keep up the pace of regular purchases, based on its playbook. Other companies only add sporadic purchases, with the smallest treasury currently standing at 125 BTC.

Can Strategy continue with its purchases?

Strategy has the ability to continue with weekly purchases, mostly by offering a significant interest of 11.25% on its STRC preferred stock. MSTR dilution is the other option, despite the common stock’s unfavorable price. 

The company faces the challenge of surviving a bear market while using its reserves to pay dividends and to cover its maturing debt in 2028. 

STRC sales depend on the days when the preferred stock trades above $100, signaling buyer interest. In the new week, no new sales have been completed. STRC fell back to $99.80, awaiting a breakout before more sales are viable. 

Strategy sits on an unrealized loss of $5.7B, only based on its BTC position. The loss is smaller than BitMine’s cut on Ethereum, reaching $7.9B after the recent price dip.

Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.