This purchase cost the company approximately $1.92 billion, with an average price of $86,969 per Bitcoin including fees and expenses.
U.S. president Donald Trump is set to announce reciprocal trade tariffs on Tuesday, April 2, targeting top U.S. trading partners.
Some analysts are concerned that this development could escalate inflation worries and limit demand for risky assets like Bitcoin.
However, market experts from DWF Labs remain optimistic, viewing the recent sell-off as "a healthy reset" rather than the beginning of the bear market.
"It seems like the bull market is coming to an end, but it's not necessarily a bad thing," said Andrei Grachev, managing partner at DWF Labs.
He highlights that after a significant rally in 2023, a correction was to be expected, especially considering the macroeconomic environment.
"We're seeing a decrease in consumer confidence and an increase in jobless claims, which might put pressure on the Fed to act more cautiously," Grachev added.
Despite the looming threat of tariffs and a potential setback for the cryptocurrency markets, Grachev believes that Bitcoin is still poised for further growth in the long term.
"Institutions are increasingly interested in crypto, and we're likely to see more mainstream adoption in the coming year," he concluded.
As the market navigates through these complexities, it will be interesting to observe how these macroeconomic developments ultimately shape the trajectory of Bitcoin and the broader cryptocurrency landscape.
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