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Strategy’s Bitcoin Buying Spree Has Minimal Impact on Prices, TD Cowen Says
TD Cowen analysts evaluated the Strategy’s treasury activity against bitcoin trading volume and price action over the past six months.Despite investing billions into bitcoin, Strategy's purchases have had little to no lasting impact on BTC prices, according to new research from TD Cowen.
The analysis found Strategy’s bitcoin buys averaged just 3.3% of weekly trading volume, with weak statistical correlation to price movements.
While not moving markets, Strategy’s treasury strategy continues to deliver strong shareholder value, with bitcoin holdings up 306% since early 2023.