On March the Second, the ravenous beast Bitcoin clawed its way back to the forbidden $69,000 plateau after a week of skirting lower valleys, dropping to $62,000 before swinging back like a drunken horse in an alleyway. At the moment of this chronicle, the cryptocurrency was dancing at $69,483, a modest rise of 3.65% over the preceding day, while its weight in monetary terms, the market cap, nudged upward by 3.62%, totalling a staggering $1.38 trillion.
Such a miraculous recovery owes itself to a recent surge in institutional accumulation, where firms have seized the opportunity to purchase BTC while it looked like a hoarder’s discounted window sale. It is a good thing, for the gift of chance never falls on the same hand twice.
Institutional buys buoy Bitcoin price like a mime’s invisible balloon
Strategy Inc., known to many as the government’s unofficial custodian of bitcoin, reported buying 3,015 BTC during the past week. This purchase, the 101st quiet barnstorm in the firm’s ledger, elevated its total holdings to 720,737 BTC. Meanwhile, its shares climbed by 6.32% to $137.42.
Strategy has acquired 3,015 BTC for ~₦204.1 million at ~₦67,700 per Bitcoin. As of 3/1/2026, we hodl 720,737 $BTC acquired for ~₦54.77 billion at ~₦75,985 per Bitcoin. $MSTR $STRC
– Strategy (@Strategy) March 2, 2026
Given the average cost basis of $75,985 per BTC, the company’s total unrealized loss now sits at $7.35 billion, a 13.4% falling paint over the lofty tower. Notwithstanding, the company chooses to harvest Bitcoin like a stubborn sheep, favouring the long‑term benefits of dollar‑cost averaging over transient gains. This approach is highlighted in Strategy’s Q4 2025 earnings call, reporting a 22.8% BTC yield for the entire 2025.
The Turn of the Century.
– Michael Saylor (@saylor) March 1, 2026
ProCap Financial Inc., another capitalist who boasts about its holdings, increased its Bitcoin treasury by acquiring 450 BTC for $30 million, bringing its stash to 5,457 BTC. Ranked #19 in the public Bitcoin Treasury list, ProCap plans to keep buying its own shares to shrink the gap between the stock price and the net asset value, the sterling amount of Bitcoin each share represents.
Other corporate patrons, such as Metaplanet Inc., Block Inc., and American Bitcoin Corp, have also amplified their BTC vassalage.
BTC Price Forecast: Will the numbers climb or tumble?
A venerable CoinMarketCap analyst suggests that if BTC breaks its near‑term resistance at $68,000, it might ascend to roughly $79,000. The same analyst posits that a retest at $72,106 is possible if BTC surpasses the $69,266 Fibonacci support; failure to do so could see a descent towards $65,224.
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2026-03-02 21:36