The post Strategy (Formerly MicroStrategy) Buys Another 6,911 BTC: Bitcoin to Breach $90K? appeared on BitcoinEthereumNews.com.

Key Notes Bitcoin soared past $87,000 after Strategy bought 6,911 BTC for $584.1 million. The firm now holds a total of 506,137 BTC, acquired for approximately $33.7 billion. After weeks of underperformance, MSTR stock also reclaimed the $300 level. Market leading digital asset Bitcoin BTC $87 459 24h volatility: 2.4% Market cap: $1.73 T Vol. 24h: $33.92 B soared past the $87,000 mark, continuing its strong bullish momentum. One of the most notable developments in Bitcoin’s recent rally is the aggressive accumulation by Strategy (formerly MicroStrategy). The software company recently announced the acquisition of 6,911 BTC for $584.1 million at an average price of $84,529 per BTC. This purchase brings its total Bitcoin holdings to 506,137 BTC, acquired for approximately $33.7 billion at an average price of $66,608 per BTC. As a result, the firm now holds over 2% of Bitcoin’s total supply. The milestone has had a positive impact on the company’s stock (MSTR), which has rebounded alongside Bitcoin’s price. Nasdaq data shows that MSTR stock rose over 4% in pre-market trading, now priced around $318. The stock has also reclaimed the $300 level, marking a nearly 5% year-to-date (YTD) increase. It is important to note that Strategy is planning to raise up to $21 billion to further accelerate its Bitcoin treasury strategy. Network Activity and Rising Transaction Fees Ali Martinez, a popular crypto analyst, pointed out that Bitcoin transaction fees have nearly tripled over the past week. This increase in fees indicates heightened network activity, usually driven by increased on-chain transactions and demand for block space. #Bitcoin $BTC transaction fees have nearly tripled over the past week, signaling a spike in network activity! pic.twitter.com/pFWS8oiO4r — Ali (@ali_charts) March 24, 2025 Historically, rising transaction fees often coincide with strong price movements, as more users engage with the network. Moreover,…

---

Filed under: News - @ March 25, 2025 12:26 am