Bitcoin

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A photorealistic depiction of Michael Saylor reviewing Bitcoin purchase details in a modern office with stacks of Bitcoin coins and financial charts.
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Strategy buys 535 bitcoin for 43 million dollars

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Strategy purchased 535 bitcoin last week for about 43 million dollars at an average price of 80,340 dollars per coin. The acquisition came days after the company signaled it might sell some holdings to fund dividends or retire debt. Executive chairman Michael Saylor said any such sales would have minimal net impact.

A long-dormant bitcoin wallet transferred approximately $40 million worth of BTC on Sunday to a new address. The move comes as the cryptocurrency trades near $80,700. Blockchain data shows the coins had remained untouched since November 2013.

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Crypto exchange-traded products recorded $858 million in inflows last week. The figure extends a six-week streak that has now reached $4.9 billion in total.

US spot Bitcoin ETFs have recorded net inflows for a sixth consecutive week. The funds have attracted a combined 3.4 billion dollars since April 2.

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Coinbase shares recovered 10 percent from session lows on Friday following a weaker-than-expected first-quarter report and a multi-hour trading outage tied to Amazon Web Services failures. Bitcoin held above $80,000 while several altcoins posted gains of 5 to 12 percent.

Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.

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