After a brief pause in acquisitions, Michael Saylor, co-founder of Strategy, has announced the company will resume its Bitcoin (BTC) purchases starting Monday. This decision follows a week-long hiatus during which the company focused on strategizing its financial maneuvers. In a recent tweet, Saylor stated, “Some weeks, you don’t just HODL,” signaling a proactive approach to the volatile cryptocurrency market.
Prior to the hiatus, Strategy had completed 12 consecutive weeks of Bitcoin accumulation, showcasing a robust purchasing trend that is becoming increasingly common among Bitcoin treasury companies. Indeed, as of June 30, Strategy had acquired an impressive total of 597,325 BTC, valued at over $70.9 billion. This formidable amount places them at the forefront of corporate Bitcoin holders.
Investors are watching closely as Strategy recently raised $4.2 billion in capital. With shares trading at about $434 and increasing by more than 16% this month, there is a palpable buzz around the company’s growth potential. However, this growth trajectory still trails the all-time high of $543 per share reached in November 2024, prompting speculation about what lies ahead for potential investors.
Bitcoin treasury companies like Strategy are beginning to dominate the landscape, acquiring BTC at rates that outpace the miners’ output. As reported, some experts warn that this intense demand could initiate a supply shock that might push Bitcoin prices higher. Yet, there are underlying concerns regarding the sustainability of debt-fueled institutional BTC buying, which could spark a systemic downturn in the market if not handled cautiously.
In the second quarter alone, Bitcoin treasury companies amassed around 159,107 BTC, with Strategy leading the charge. With a rising tally of institutional holdings—totaling approximately 3.5 million BTC—comprised of public and private entities, the future landscape of Bitcoin could be dramatically reshaped.
As the miner reserve metric indicates a decline in the quantity of BTC available among miner wallets, many consider Strategy’s rapid accumulation akin to “synthetically halving” Bitcoin. This tactic, as highlighted by commentators, positions Strategy as a potential financial superpower in the emerging digital economy.
