The world’s largest cryptocurrency Bitcoin (BTC) was seen struggling to move back above $100,000. While February started on a rather high note, the king coin failed to maintain the same momentum. Earlier today, the asset dropped to a low of $96,909.07. Some questioned the possibility of BTC reclaiming its position above the $100,000 mark, and a few others were seen buying the dip. Michael Saylor’s Strategy was seen pocketing a notable amount of BTC.

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Strategy’s Latest Acquisition

Michael Saylor talking
Source: X

Recently, Strategy, formerly known as MicroStrategy, announced a significant new BTC acquisition. For a total of $742.4 million, it purchased 7,633 Bitcoin at a price of $97,255 apiece. The company’s CEO, Michael Saylor, shared this information on the X. He had already given away a clue the day before when he posted the enigmatic phrase, “Death to blue lines.” “Long live green dots,” along with his conventional graph that tracks BTC purchases.

Following its latest purchase, the firm currently owns 478,740 BTC. Among all businesses worldwide, it is the biggest BTC wallet. Strategy spent an average of $65,033 on each BTC. This, however, does not come as a surprise as Saylor has been a Bitcoin bull from the very beginning.

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Bitcoin Price Action

At the time of writing, Bitcoin was trading at $98,230.69 following no major price drops and increases over the past 24 hours. The highest price level that BTC was trading at is $98,492.90.

Source: CoinMarketCap

The latest drop or rut doesn’t negate the growth rate of the king coin over the last couple of months. In the first month of 2025, Bitcoin managed to rise to an all-time high of $109,114.88. But considering the latest plummet of the asset, BTC is currently 9.94% below this peak. Several in the community believe that BTC will reach $200,000 this year. Strategy is clearly optimistic about Bitcoin’s potential ascent.

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