Bitcoin broke through the $124,000 mark on Monday, lifted by yet another round of buying from Strategy Inc., the company that has become one of the loudest corporate champions of the cryptocurrency. In a filing, Strategy disclosed it had purchased another 196 coins for a little over $22 million. That brings the company’s total stash to 640,031 BTC. At current prices, the holding comes out to somewhere around $47 billion. For context, that figure is larger than the market cap of several household-name companies listed in the S&P 500, which gives a sense of just how massive Strategy’s bet has become.
This buy didn’t come out of leftover cash in the vault. Between September 22 and 28, the company raised roughly $128 million by selling both common and preferred stock through its at-the-market equity program. Part of that haul went straight into Bitcoin. It’s a playbook Strategy that has been followed many times before; tapping equity markets to fund steady crypto purchases. The approach has let it grow its holdings year after year without leaning too heavily on operating profits, and over time, that tactic has turned Strategy into one of the largest institutional holders of Bitcoin anywhere in the world.
But Bitcoin isn’t just sitting on corporate balance sheets or in the portfolios of hedge funds. It’s creeping into areas where speed and low costs matter, and online casinos are one of the clearest examples. Many gambling sites now accept Bitcoin and other cryptocurrencies for deposits and withdrawals, giving players the ability to move money quickly and with more privacy than traditional payment options usually allow. Card Player compares BTC wagering options across these platforms, showing how they stack up. The rise of crypto casinos demonstrates that Bitcoin’s adoption isn’t just about long-term investing. It’s also becoming a working part of digital entertainment.
The overall crypto market tells a more complicated story. According to CoinShares, digital asset funds saw about $812 million flow out last week, with U.S. funds driving the bulk of that at around $1 billion. That said, some of the pressure was softened by inflows into Switzerland, Canada, and Germany. Bitcoin funds alone saw $719 million in redemptions, though the absence of large moves into short-Bitcoin products suggested that these withdrawals weren’t rooted in strong bearish conviction.
Ethereum products weren’t spared, recording about $409 million in outflows. Solana bucked the trend, however, pulling in $291 million as traders looked ahead to a decision on its potential U.S. ETF. These swings underscore how quickly sentiment shifts between tokens depending on regulation, hype cycles, or new announcements. It’s another reminder that while Bitcoin may dominate the headlines, other cryptocurrencies are still shaping where money moves week to week.
For Bitcoin itself, chart watchers say several levels are worth noting. The asset has held its upward trendline support and remains above the 0.236 Fibonacci retracement, which sits near $111,300. Resistance looks bunched up around the 20-day and 50-day exponential moving averages, both clustered between about $112,800 and $113,300. A break above that pocket could see the price test $116,000, and possibly stretch toward $117,900, which lines up with the 0.618 retracement. On the other side, initial support shows up near $111,800, with a stronger floor around $108,400 where the 200-day EMA meets the channel base.
What makes Strategy’s role so impactful isn’t just the sheer size of its Bitcoin position but the regularity of its buying. Markets can be jittery, with fund flows swinging sharply from one week to the next, yet Strategy has kept adding coins regardless of whether prices were falling or rising. With more than 640,000 coins under its control, the company now holds over three percent of Bitcoin’s circulating supply, something only a handful of organizations (public or private) can match.
Sentiment among retail and institutional investors seems to be stabilizing, too. The Crypto Fear & Greed Index, a gauge of market mood, climbed from 37 to 49 last week. That may not sound dramatic, but it moves the needle out of the “fear” category into neutral territory. When corporate treasuries keep building positions even as traders sell, the effect can help steady prices and offset some of the volatility that headlines or regulatory news often spark.
So Bitcoin’s latest move above $124,000 is less about a single headline and more about the push and pull of competing forces. With adoption spreading from financial markets into consumer platforms, the balance of influence is tilting toward those patient buyers who are prepared to sit through volatility.