Bitcoin Rallies Past $63,000; Strategy Buys 1,550 BTC, Stocks Bounce
Bitcoin rose above $63,000 on Monday, recovering from a seven-day losing streak that had pushed it below $60,000. The rebound gained momentum after Strategy (formerly MicroStrategy) announced the purchase of 1,550 BTC for $101 million, reinforcing its long-term accumulation strategy. The company now holds 845,256 BTC. Additionally, Strategy’s semi-monthly dividend proposal for STRC preferred stock was approved. Crypto stocks broadly rebounded, with Galaxy Digital surging 22% after CEO Mike Novogratz revealed plans for a large data center. However, analysts urge caution, noting that ETF flows remain negative and upcoming CPI data could test the sustainability of the recovery. El Salvador continues to accumulate bitcoin, now holding 7,676 BTC. Bitcoin's seven-day losing streak was the first since June 2022.
Key facts
- Strategy bought 1,550 BTC for $101 million, increasing its total holdings to 845,256 BTC.
- Bitcoin ended a seven-day losing streak, its longest since June 2022.
- Galaxy Digital surged 22% after CEO announced a 1.6 GW data center plan.
- El Salvador holds 7,676 BTC worth ~$487 million, continuing daily purchases.