Strategy Buys 1,550 Bitcoin for $100 Million as BTC Slips to $63,300
Updated
Updated · CoinDesk · Jun 8
Strategy Buys 1,550 Bitcoin for $100 Million as BTC Slips to $63,300
1 articles · Updated · CoinDesk · Jun 8
Summary
Bitcoin pulled back to $63,300 by the U.S. close after briefly topping $64,000, though it still held a 3% gain over 24 hours.
Afternoon weakness in risk assets trimmed an earlier rebound: the Nasdaq finished up 1.6% after being near 2.5%, while the S&P 500 ended with a 0.3% gain.
Strategy rose 5.6% after disclosing a $100 million purchase of 1,550 bitcoin, reversing some pressure from last week when its small BTC sale helped trigger a broader crypto drop.
STRC, Strategy's high-yield preferred series, also recovered to $96.85 after falling as low as $91 last week, while ether, solana and XRP gained 4% to 6%.