Bitcoin rebound near $74,749

Strategy’s published bitcoin data gave traders a fresh reference point on Saturday as Bitcoin traded near the company’s aggregate purchase price. A May 23 post on X by KaanChart said Bitcoin’s rebound from about $74,749 reflected support around Strategy’s average cost basis, citing data from @ForeDex_Global and references to BlackRock ETF flows. Strategy’s own dashboard showed Bitcoin at about $75,484 early Saturday, while the company’s purchases page listed an average acquisition cost of $75,700 across 843,738 BTC. The claim matters because it ties a widely watched corporate treasury position to a live trading level. Strategy, formerly MicroStrategy, has become the market’s largest corporate holder of bitcoin, and its disclosures are public and updated frequently through company pages and SEC filings. In that setup, traders often use the company’s average entry price as a rough marker for where institutional demand may have accumulated. (strategy.com) ### Why are traders focused on Strategy’s cost basis? Strategy’s purchases page on May 23 showed 843,738 BTC acquired at an average cost of $75,700, with total acquisition cost of about $63.9 billion. That figure is close to the roughly $74,749-$75,000 range cited in the social thread, though the company’s currently posted average is slightly higher than the lower end of that range. Strategy’s first-quarter results, released May 5, gave an earlier snapshot of the same math. (strategy.com) The company said that as of May 3 it held about 818,334 bitcoins with an original cost basis of $61.81 billion, or about $75,537 per bitcoin. Since then, Strategy has reported additional purchases, which helps explain why the average cost shown on its live purchases page has moved to about $75,700. (strategy.com) ### Did Bitcoin actually trade near that level? Yahoo Finance showed Bitcoin at $74,650.35 at 10:23:19 a.m. UTC on May 23, down 3.33% on the day. Strategy’s own dashboard showed Bitcoin at about $75,484 earlier Saturday, while CoinMarketCap data for May 22 listed a daily low of $75,323.88 and a close of $75,488.24. Those figures support the narrower point that Bitcoin has been trading in the same zone as Strategy’s disclosed average purchase price. (strategy.com) They do not, by themselves, prove that the company’s cost basis caused the rebound; that remains a market interpretation circulating on social media rather than a statement from Strategy or BlackRock. ### Where does BlackRock fit into the story? BlackRock’s iShares Bitcoin Trust, known as IBIT, is one of the vehicles traders cite when discussing institutional demand for bitcoin. (finance.yahoo.com) BlackRock’s product page says the trust seeks to reflect the performance of bitcoin’s price and offers exposure through an exchange-traded product. The X thread linked the rebound not only to Strategy’s cost basis but also to ETF inflows and “Wall Street accumulation.” BlackRock’s public product materials confirm IBIT’s role as a spot bitcoin vehicle, but the social post’s claim about flows driving the move would require separate flow data beyond the company’s general product description. (strategy.com) (blackrock.com) ### What can be verified from the public record? Strategy’s public filings and company pages verify the holdings, the average acquisition prices and the dates of recent purchases. BlackRock’s site verifies that IBIT is a spot bitcoin exchange-traded product. Market data pages verify that Bitcoin traded in the mid-$74,000 to mid-$75,000 range around May 23. (blackrock.com) May 18 is the latest purchase date listed on Strategy’s purchases page, and the company’s dashboard remained live on May 23 as traders compared that average cost with Bitcoin’s spot price. Any next confirmation of the “support” thesis is likely to come from updated company purchase disclosures, ETF flow data, and Bitcoin’s price action around the $75,000 area. (strategy.com 1) (strategy.com 2)