Strategy Inc. (NASDAQ: MSTR) has bought 196 Bitcoin (CRYPTO: BTC) for $22.1 million, lifting its total holdings to 640,031 BTC, according to an SEC filing on Monday.
ATM Equity Sales Fund Fresh Bitcoin Buys
The company disclosed Monday it funded the Bitcoin purchase through its at-the-market equity programs.
Between Sept. 22 and Sept. 28, it sold preferred and common shares totaling $128.1 million in proceeds, with part allocated to Bitcoin acquisitions.
The latest buy lifts Strategy's aggregate Bitcoin investment to US$47.35 billion at an average price of $73,983 per coin.
Fund Outflows Test Market Conviction
Digital asset products posted $812 million in weekly outflows last week, according to a CoinShares report. The U.S. led redemptions with $1 billion, while Switzerland, Canada, and Germany reported inflows.
Bitcoin products saw $719 million in outflows, though CoinShares noted the lack of short-Bitcoin inflows suggested the selling pressure was not strongly conviction-driven.
Ethereum (CRYPTO: ETH) recorded $409 million in redemptions, while Solana (CRYPTO: SOL) drew $291 million of inflows ahead of its U.S. ETF decision.
Bitcoin Holds Channel Support Near $112
BTC Key Technical Levels (Source: TradingView)
Technical analysis: Bitcoin trades near $114,000 after defending its ascending trendline support.
Price is stabilizing above the 0.236 Fibonacci retracement at $111,294, with immediate resistance at the 20-day and 50-day EMAs between $112,791 and $113,277.
A breakout above this cluster may target $116,000 and the 0.618 retracement near $117,896.
On the downside, support is set at $111,784 and deeper at $108,380, where the 200-day EMA aligns with the channel base.
Why It Matters
Strategy's latest allocation shows how balance-sheet adoption is beginning to reshape Bitcoin's market structure.
Despite $812 million in weekly outflows from digital asset funds, the company raised its holdings to 640,000 BTC, signaling that corporate treasuries are emerging as a counterweight to cyclical investor flows.
Crypto Fear & Greed Index (Source: Coinglass)
At the same time, the Crypto Fear & Greed Index climbed from 37 to 49, marking a shift from fear to neutrality.
For investors, this divergence highlights a critical turning point where Bitcoin's direction is increasingly being set by long-term institutional anchors rather than short-term sentiment.
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