Bitcoin Ends Seven-Day Decline Above $63,000 as Strategy Acquires $101 Million in BTC
Crypto News Today: Bitcoin Snaps Seven-Day Losing Streak Above $63,000 — Strategy Buys $101 Million in BTC and Builds $1 Billion Dollar Buffer

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Bitcoin halted a seven-day decline, rising 4% to over $63,000, supported by institutional buying and a strengthened dollar reserve. Strategy purchased 1,550 BTC for $101 million, increasing its holdings to 845,256 BTC while expanding its dollar reserve to $1 billion, easing fears of further Bitcoin sales.
- 01Bitcoin rose above $63,000 after a seven-day losing streak, marking its largest single-day gain since April.
- 02Strategy acquired 1,550 Bitcoin for $101 million, raising its total holdings to 845,256 BTC.
- 03The company's dollar reserve grew to $1 billion, reducing the likelihood of future Bitcoin sales to meet preferred dividend obligations.
- 04Shareholders approved a change in the STRC dividend schedule from monthly to semi-monthly payments to enhance liquidity.
- 05Bitmine purchased approximately 127,000 ETH for $214 million, despite Ethereum's recent price drop.
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Bitcoin ended its seven-day losing streak on Sunday, gaining 4% and surpassing $63,000. This rebound was driven by fresh institutional buying, particularly from Strategy, which purchased 1,550 BTC for $101 million, bringing its total Bitcoin holdings to 845,256 BTC. The company also expanded its dollar reserve to $1 billion, significantly alleviating concerns about the need for further Bitcoin sales to fund preferred stock dividends. This strategic move is expected to reduce immediate pressure on Bitcoin sales, as the reserve now sits between preferred dividend obligations and Bitcoin holdings. Additionally, shareholders of Strategy approved a shift in the STRC dividend schedule to semi-monthly payments, aimed at improving liquidity and reducing price volatility. Meanwhile, Bitmine, led by Tom Lee, made a substantial purchase of 127,000 ETH, totaling $214 million, amidst Ethereum's price decline, reinforcing its bullish outlook despite recent losses. Overall, these developments indicate a cautious optimism in the cryptocurrency market following a period of significant volatility.
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