Strategy (MSTR) stocks are rising to start the week as the company resumes buying Bitcoin cryptocurrency. BTC reached an additional $120,000 ATH as agency demand rose and assets attracted more attention on the federal stage. The U.S. House of Representatives will review several important legislation this week, including code. This attention to cryptography shed a bullish light on Bitcoin, sending its prices and BTC-related stocks higher.
The Bitcoin rally comes with a surge in inventory, including crypto networks, particularly Coinbase (Coin), Robinhood (Food), and the newly released Stablecoin Issuer Circle (CRCL). Coinbase and Robinhood shares are trading at record highs. BTC’s biggest institutional investor strategy has risen 10% since BTC violated ATH last week.
Additionally, the strategy has announced new purchases of $472 million worth of Bitcoin (BTC). The company today announced that it had acquired 4,225 BTC from July 7th to July 13th at an average price of $111,827 per coin. This latest purchase brings the strategy’s total holdings of 601,550 BTC, with a total purchase price of $42.87 billion, an average cost basis of $71,268 per coin.
The House of Representatives looks over this week, the Genius Law, the nation’s first federal framework plan for stablecoins. Additionally, the House will monitor the Clarity Act, a major legislative package that assigns the Securities and Exchange Commission (SEC) or Commodity Futures Trade Commission (CFTC) oversight of all digital assets except Stablecoins, depending on the assets. The Clarity Act is expected to be far more divisive than the act of genius. Additionally, the third bill scheduled for this week’s floor voting is the CBDC Oversight National Act. The bill would prevent the Federal Reserve from creating a “Central Bank Digital Currency” (CBDC) and block the Federal Commission from using CBDCs to enact monetary policy.
Bitcoin is expected to speed up in 2025 and stay on the greener side of the spectrum. BTC’s Finder outlook is bullish and taking an entry position at an all-time high of $120,980 is beneficial. King Cryptocurrency was able to see some dips along the way, but according to predictions it’s on a northbound track. If BTC rises sharply, other major Altcoins like Ripple’s XRP, Cardano’s ADA, and Vechain’s Veterinarians could also be on the charts.
