- Bitcoin reaches $112k, driven by institutional buying.
- Strategy adds 196 BTC, bringing its holdings to 640,031 BTC.
- Analysts see potential for $120,000 but warn of volatility risks.
Bitcoin (BTC) has surged to $112,000, fueled by renewed institutional interest and a sizable acquisition by Strategy, the world’s largest corporate holder of Bitcoin.
Strategy acquires 196 BTC, holdings reach 640,031
Strategy, formerly MicroStrategy, disclosed the purchase of 196 Bitcoin for an undisclosed amount, bringing its total holdings to 640,031 BTC, according to a Form 8-K filing.
Strategy has acquired 196 BTC for ~$22.1 million at ~$113,048 per bitcoin. As of 9/28/2025, we hodl 640,031 $BTC acquired for ~$47.35 billion at ~$73,983 per bitcoin. $MSTR $STRC $STRK $STRF $STRD https://t.co/NnmLONBsRK
— Michael Saylor (@saylor) September 29, 2025
The acquisition, financed through the company’s at-the-market (ATM) offering program, reinforces Strategy’s position as the leading corporate Bitcoin treasury, with holdings valued at roughly $71.7 billion at current market prices.
The purchase follows a pattern of steady accumulation: Strategy added 850 BTC on September 22, 2025, and 525 BTC on September 15, 2025, at an average price of $114,562 per BTC.
Michael Saylor, Executive Chairman, has continued to deploy equity and debt financing to acquire BTC, further solidifying the company’s role as a model for Bitcoin-backed corporate treasuries.
The latest buy coincided with Bitcoin’s climb to about $112,500, a 2.9% increase from $109,525.50 three days earlier.
Analysts weigh in on BTC price prospects
Analysts are cautiously optimistic about Bitcoin’s trajectory after the move up to $112,000. The rally reflects Strategy’s aggressive accumulation and broader market momentum, though forecasts vary on what comes next.
Some analysts project BTC could reach $150k–$200k in 2025, citing institutional adoption and macroeconomic tailwinds as key drivers. Others caution that volatility could bring further pullbacks before any sustained uptrend.
QCP analysts shared their view
“After a volatile September, $BTC is still up more than 3% for the month. Option markets indicate confidence is gradually returning, but the 115k level remains a hurdle to remove renewed bullish momentum.”
Is Bitcoin at a ‘buy’ level on dips?
QCP analysts say the crypto market is showing “signs of recovery” after a heavy sell-off seen the previous week. The volatility that pushed BTC below $109k could present buying opportunities on dips.
“Despite sizeable ETF outflows, particularly on Friday, spot held relatively flat over the weekend. This suggests quarter-end base formation was the main driver of redemptions, with the market absorbing selling pressure more smoothly than expected,” QCP wrote. “With spot stabilizing, ETF flows this week could set the tone for institutional demand into a seasonally bullish period.”
Strategy’s steady purchases are viewed as a bullish indicator, while potential U.S. regulatory developments around digital assets remain an important factor for long-term price stability.
If upward momentum continues, Bitcoin’s ability to clear $117k will be critical. That level represents a significant supply wall and would be a key milestone on the path above $118k and toward testing $120k.