Strategy (MSTR) buys $1.3 billion worth of Bitcoin
Strategy has significantly expanded its digital asset treasury, acquiring 17,994 Bitcoin for approximately $1.28 billion.
Strategy has extended its relentless Bitcoin (BTC) buying spree by purchasing an additional $1.28 billion worth of Bitcoin. This comes after Michael Saylor, the company’s executive chairman, teased the purchase on Thursday.
According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the corporate intelligence and software firm acquired 17,994 Bitcoin (BTC) between March 2 and March 8. Its average purchasing price was $70,946 per BTC.
Saylor’s Strategy Buys $1.3 Billion Worth of Bitcoin, XRP’s Key Indicators Hint Rebound, Dogecoin Volume up 87% — U.Today Crypto Digest
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With this latest purchase, Strategy’s total aggregate Bitcoin holdings have reached a staggering 738,731 BTC.
During the same March 2 to March 8 window, the company raised approximately $1.276 billion in net proceeds through the sale of both common and preferred stock.
Dogecoin volume up 87%
DOGE is showing resilience, with early rebound signs from a golden cross setup.
Dogecoin has formed a golden cross as the asset shows signs of rebounding from its weekly low. The meme coin has been on a decline in the last seven days amid broader market fluctuations. This technical signal suggests a bullish recovery for DOGE.
The formation of a golden cross indicates that the short-term moving average has crossed over the long-term one. This technical signal is often interpreted by traders as a buy signal for a potential price increase for an asset.
CoinMarketCap data shows that Dogecoin moved from a daily low of $0.08744 to hit a peak of $0.09157. As of this writing, Dogecoin is exchanging hands at $0.09039, which represents a 1.13% increase in the last 24 hours.
The trading volume has soared by a massive 87.16% to $1.12 billion within the same time frame. The uptick is primarily driven by a derivatives-led volume surge and whale accumulation. A notable whale reportedly bet $359,000 long on DOGE on Binance futures.
XRP’s key indicators converge
XRP might find its footing for a recovery in a few weeks as converging moving averages create bounce conditions.
XRP has spent the past several months moving inside a persistent downtrend, but the recent price structure suggests that the selling pressure may be weakening. The asset is currently compressing close to the $1.34 mark on the daily chart, and a number of important indicators are starting to converge.
This kind of structure frequently emerges in the latter phases of a correction, when the market begins laying the groundwork for a possible rebound.
The ascending support line that developed following the dramatic decline in early February is the most noticeable feature on the chart. XRP has been printing somewhat higher lows since that capitulation event, progressively narrowing its range.
Source: https://u.today/saylors-strategy-buys-13-billion-worth-of-bitcoin-xrps-key-indicators-hint-rebound-dogecoin-volume
