By Nate Wolf
Strategy has resumed buying Bitcoin, providing a bit of positive news at a time when cryptocurrencies have been struggling for momentum.
The company snapped up 1,550 Bitcoin in the period from June 1 to June 7, at an aggregate price of $101.3 million. The purchases came just a week after Strategy sold Bitcoin for the first time since 2022 -- a move that deviated from its longstanding buy-and-hold playbook.
Shares of Strategy, the world's largest corporate holder of Bitcoin, jumped 4.2% in premarket trading Monday.
Other crypto-linked stocks also rose. Trading platforms Coinbase Global and Robinhood Markets were up 3.4% and 2.6%, respectively. Stablecoin issuer Circle Internet Group gained 3.9%.
Bitcoin prices have risen 2.4% over the last 24 hours to $63,339 after dipping below $60,000 last week. Alt-coins Ethereum and Solana gained 2.9% and 2.4%, respectively.
Prices were trending higher even before Strategy's announcement, but the purchases won't hurt. Strategy Executive Chairman Michael Saylor has become one of the most visible Bitcoin bulls over the last few years, and the decision to sell -- while not totally unexpected -- likely dented retail investors' confidence in the asset.
Thomas Perfumo, chief economist at crypto platform Kraken, has described Strategy as the "single most influential entity in the market."
Weak retail demand can bleed into the institutional market through Bitcoin exchange-traded funds, too. Funds such as the iShares Bitcoin Trust ETF and the Fidelity Wise Origin Bitcoin Fund suffered billions of dollars worth of outflows through the tail end of May and beginning of June, Barron's reported Friday .
Write to Nate Wolf at nate.wolf@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 08, 2026 08:46 ET (12:46 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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