Strategy co-founder Michael Saylor posted the Bitcoin (BTC) chart signaling an impending BTC purchase by the company, despite the ongoing conflict in the Middle East, which could rattle global financial markets when they open on Monday.
The company’s most recent Bitcoin buy occurred on June 9, with a relatively small purchase of 1,045 BTC, valued at approximately $110 million, bringing Strategy’s total holdings to 582,000 BTC.
Data from SaylorTracker shows that Strategy is up over 50% on its investment. This translates to over $20 billion in unrealized capital gains in fiat terms.
Saylor’s announcement of an imminent Bitcoin acquisition is another sign of investor confidence in BTC amid the Israel-Iran conflict and the looming, uncertainty over global financial markets. Investors are watching to see how the financial system will react when markets open on Monday, following escalations by both countries over the weekend.
Related: ‘Apple should buy Bitcoin,’ Saylor says, as share buyback disappoints
Bitcoin holds up despite looming uncertainty and possibility of conflict escalation
Israel launched airstrikes against Tehran, Iran’s capital city, at 22:50 UTC on Thursday. The price of Bitcoin slid by only 3% following news of the initial strike and has held firm around the $105,000 level since the conflict started.
Bitcoin exchange-traded funds (ETFs) recorded five days of consecutive inflows this week amid the ongoing uncertainty surrounding trade tariffs, the US economy, and the growing geopolitical tensions in the Middle East.
BTC ETFs experienced a net inflow of over $1.3 billion in capital this week, according to data from Farside Investors.
The Crypto Fear and Greed Index, a metric tracking overall market sentiment, is currently at 60, indicating “greed” among investors and a bullish sign for digital assets in the wake of mounting geopolitical tensions.
Despite the current price resilience of Bitcoin and other cryptocurrencies, Coin Bureau founder and market analyst Nic Puckrin warned that Iran closing the Strait of Hormuz would negatively impact risk asset prices in the near term.
The Strait of Hormuz is a narrow waterway that connects the Gulf of Oman to the Persian Gulf. This critical oil shipping route is responsible for the transport of approximately 20% of the world’s oil supply.
Energy is a necessary input at all levels of the economic production process, and a spike in energy prices will likely impact global financial markets as businesses and investors contend with the increased operational costs.
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