Michael Saylor’s Strategy, the largest public holder of Bitcoin, purchased 196 BTC for $22.1 million as the price fell below $110,000 last week. Strategy now holds a total of 640,031 BTC, acquired for $47.35 billion at an average price of $73,983 per coin. Saylor predicts Bitcoin will rise by year-end.

The recent $22 million Bitcoin acquisition by Strategy is one of the smallest weekly purchases made, indicating a slowdown in buying activity. Co-founder Saylor expects Bitcoin to start moving up towards the end of the year after facing institutional pressure. The company has been making shrinking acquisitions in recent months.

Saylor expressed optimism that Bitcoin will see a smart increase by the end of the year despite facing resistance and macro headwinds. Strategy remains confident in the long-term prospects of the cryptocurrency amidst growing institutional adoption. Saylor anticipates a positive trajectory for Bitcoin in the coming months.

Read more at Cointelegraph: Michael Saylor’s Strategy Buys $22M Bitcoin As Price Drops