Strategy, formerly MicroStrategy, acquired 245 Bitcoin valued at approximately $24.8 million between June 16 and 22, marking its second-smallest purchase this year, according to a recent company disclosure.
The Virginia-based software firm bought Bitcoin at an average price of $105,856 per token. This latest acquisition brings Strategy’s total holdings to 592,345 Bitcoin, worth about $60 billion based on current prices from CoinGecko.
This smaller purchase follows a period of escalating geopolitical tensions in the Middle East, which have driven investors away from riskier assets like cryptocurrencies toward safer options such as gold.
The conflict between Iran and Israel intensified last week with missile exchanges, and the U.S. conducted airstrikes on sites linked to Iran’s nuclear development. These events caused volatility in global oil markets and digital asset prices while boosting gold prices.
Bitcoin has declined 5.6% over the past week, trading at $101,640 and dipping below $100,000 for the first time since early May. The overall cryptocurrency market cap fell by about 6% to $3.2 trillion.
In contrast, gold futures rose 1% to $3,400.70 per ounce, and oil futures increased over 4%, responding to the geopolitical unrest.
Despite uncertainty, Strategy has consistently bought Bitcoin for eleven consecutive weeks, investing more than $6 billion since mid-April.
Other firms are also expanding their Bitcoin holdings: Tokyo-based Metaplanet purchased 1,111 Bitcoin worth $118 million, aiming for 100,000 Bitcoin by 2026, and Brazil-listed Meliuz S.A. reported a $28.61 million Bitcoin purchase on Monday.