Michael Saylor’s Strategy is set to acquire at least $76.25 million in Bitcoin this week, renewing a significant source of corporate demand for the digital asset after a short pause.
Estimates from STRC.LIVE, a site tracking the company's preferred stock, suggest Strategy had raised enough capital by Tuesday’s market close to fund the purchase of more than 1,111 BTC. The buying window reopened after the company’s STRC preferred stock closed at $100.02, just above its $100 par value, which allows the firm to issue new shares and deploy the proceeds into Bitcoin.
The move follows a brief period where STRC traded below par, halting the firm's bitcoin acquisition engine. This new purchasing activity coincides with a more than 5 percent climb in Bitcoin’s price to nearly $69,300. As of its latest filings, Strategy holds 762,099 BTC at an average price of about $75,694 per coin.
This resumption of institutional buying could fuel a move toward $80,000, an upside target identified by a prevailing bear flag pattern on the daily chart. The renewed purchasing from a major corporate holder adds a significant demand catalyst to the market structure.
Strategy’s purchasing cadence has recently shown a correlation with Bitcoin's price movements. In the week ending March 15, the company acquired 22,337 BTC for approximately $1.57 billion, a period during which Bitcoin’s price rose more than 10 percent. Conversely, the price fell 14.55 percent over the following two weeks when Strategy’s purchasing was paused.
The company has signaled its intent to continue this strategy, recently unveiling a $44.1 billion capital-raising capacity to fund future Bitcoin buys through STRC and other financial instruments.
From a technical perspective, Bitcoin’s price is contending with a bear flag formation. A sustained rally, supported by catalysts like Strategy’s buying, could push the price toward the pattern’s upper trendline near $80,000. This level is a key near-term resistance zone.
However, if the supportive factors weaken, a breakdown below the flag’s lower trendline could confirm a bearish scenario. In that case, the measured downside target is projected to be in the $49,000 to $50,000 range, a level cited by multiple market analysts.
This article is for informational purposes only and does not constitute investment advice.
