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Strategy purchased another $75.3 million in Bitcoin, executive chairman Michael Saylor announced on Monday. Illustration: Gwen P; Source: ShutterstockStrategy purchased another $75.3 million in Bitcoin, executive chairman Michael Saylor announced on Monday. Illustration: Gwen P; Source: Shutterstock

Strategy adds $75m more Bitcoin as traders hedge for $70,000 price

Author: DL NewsSource: DL News
2026/02/03 16:56
3 min read

Strategy purchased another $75.3 million in Bitcoin, executive chairman Michael Saylor announced on Monday.

The crypto treasury firm now holds just over $54 billion in Bitcoin purchased at an average price of $76,052 per coin.

Plenty of other Bitcoin believers are buying the dip as well.

Investors poured $562 million into spot Bitcoin exchange-traded funds on Monday, according to DefiLlama data.

The buying spree comes as Bitcoin’s price has been hammered by over 15% in the past month, due in part to market uncertainty and geopolitical unrest.

That chaos cocktail includes US President Donald Trump’s nomination of interest rate hawk Kevin Warsh as the next Federal Reserve boss, ongoing tariff threats, the fatal shootings in Minneapolis, and Trump’s seeming indifference toward a weaker dollar.

Crypto bloodbath

Warsh’s nomination is a major U-turn by Trump, who has long insisted on lower interest rates. A hawkish Fed means fewer and slower rate cuts, meaning less money in the financial system to boost asset prices like Bitcoin, stocks, or gold.

To be sure, Warsh still needs to be confirmed by the Senate, and consensus on interest rates must be reached with other Fed governors.

“Investors turned bearish after news about new US Federal Reserve leadership appointments, raising fears that monetary policy could remain tighter for longer,” Erikka Arone, senior vice-president at crypto-trading platform sFOX, told DL News.

Bitcoin is trading 38% below its all-time high and has lagged behind other assets, such as stocks and gold, since the $1 trillion October wipeout.

“It’s been a bloodbath across crypto markets over the past few days,” Nick Forster, founder of Derive.xyz, said in an investor note shared with DL News.

He said that traders are now positioning for a drop to as low as $70,000 per Bitcoin.

“Short-term fear is dominating market psychology,” he said. “This reflects acute uncertainty in the immediate term.”

And Forster is far from the only bearish voice.

On Monday, Bloomberg Intelligence strategist Mike McGlone doubled down on his $10,000 prediction for Bitcoin.

Crypto market movers

  • Bitcoin is up 2.3% over the past 24 hours, trading at $78,761.
  • Ethereum is up 3% past 24 hours at $2,317.

What we’re reading

  • What is Moltbook? Memecoin tied to AI bot forum crashes 75% after X hype — DL News
  • Iranians tap decentralised networks to reveal depths of chaos as thousands revolt: ‘Living in hell’ — DL News
  • Bitcoin Sinks as Markets Price In a More Hawkish Fed — Unchained
  • The ABCD investing framework — Milk Road
  • Bitcoin price to $10,000 as markets barrel towards crash ‘reminiscent of 2008,’ Bloomberg analyst warns — DL News

Lance Datskoluo is DL News’ Europe-based markets correspondent. Got a tip? Email him at lance@dlnews.com.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

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