Strategy to Take Advantage of Bitcoin Price Drop to Buy Coins
Michael Saylor’s Strategy is preparing to buy Bitcoin at the bottom, which could be reached in August 2025.
The company last purchased BTC on August 11, when the coin was worth $116,401. During the ongoing upward trend, thanks to which the cryptocurrency rate updated its historical maximum at $124,517, the company did not invest money in digital assets, apparently waiting for the start of the correction that occurred on August 14 and caused the coin’s value to fall by 7,6%.
Saylor did not say at what price Strategy plans to buy Bitcoin. Note that the key support barrier is at $111,440, which coincides with the 50% Fibonacci level given the pump in the BTC price from $98,302 to $124,517. Based on this, we can assume that Michael views this level as a target for the bears.
Bitcoin price likely to decline
The head of Strategy did not make any predictions about the change in the price of the cryptocurrency in the long term, but judging by his rhetoric, it is clear that he is confident that the downward trend will soon end and the bull rally will resume.
I think the lion’s share of cryptocurrency investment is in Bitcoin. In the last six months, the number of companies that have invested in BTC has grown from 60 to 160, so I am completely focused on Bitcoin, — concluded Saylor.
