Bitcoin Price Rebounds Above $115,000 As Strategy Buys 390 More Bitcoin

Bitcoin's price surged past $115,000 on Monday following the announcement that Strategy, the largest corporate Bitcoin holder, acquired an additional 390 BTC between October 20 and October 26 for approximately $43.4 million, averaging $111,053 per coin. This purchase brings Strategy's total holdings to 640,808 BTC, with an average cost basis of $74,032 per Bitcoin. The acquisition was funded through proceeds from the company's At-The-Market (ATM) equity programs. This event highlights a growing trend of corporate Bitcoin treasury adoption, with Strategy alone accounting for about $74 billion of the over $110 billion held by publicly traded companies. Furthermore, Strategy's stock (MSTR) rose 3% pre-market, supported by favorable IRS guidance regarding the treatment of unrealized crypto gains under the Corporate Alternative Minimum Tax (CAMT).

(Source：Bitcoin Magazine)