According to analysts, on average, the purchases of Strategy bitcoins are approximately 3.3% of the weekly bidding and slightly affect the value of the asset value. The correlation coefficient between the weekly purchases of Strategy and the price of the asset amounted to less than 25%.
“The acquisitions of Strategy correspond to a very small share of the total volume of trading, so the idea that it somehow has a noticeable effect on the dynamics of the first cryptocurrency quotations is not quite true,” experts explained.
At the same time, the company’s strategy to buy bitcoins brings its investors significant profit. Since the beginning of 2023, the cost of coins belonging to the corporation has increased by 306%. At the moment, Strategy has everything necessary in order to continue to demonstrate positive profitability in the foreseeable future, TD Cowen emphasized.
Earlier, Strategy announced the purchase of 3,459 bitcoins in the amount of $ 285.8 million. The company made purchases from 7 to April 13 at an average cost of $ 82,618 per BTC.
Source: Bits
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