Michael Saylor, co-founder of Strategy, reflects his belief in Bitcoin by making purchases continuously for 11 weeks.
Bitcoin Purchases by Strategy
On June 23, Strategy announced additional acquisition of 245 BTC, amounting to a $26 million investment. This purchasing streak, which started on April 14, highlights the company's aggressive strategy towards accumulating Bitcoin as corporate assets.
Statistics and Market Impact
According to data from SaylorTracker, Strategy now holds 592,345 BTC, making it the largest corporate holder of Bitcoin globally. This surpasses the combined reserves of the next 20 public companies. Some analysts believe that such aggressive purchases could cause a supply shock and raise prices.
Risks and Criticism of Accumulation Strategy
Market observers express concerns about companies trying to replicate Strategy's Bitcoin accumulation model. These firms often rely on high leverage, which could lead to market instability. In a recent report, Breed, a venture capital firm, warns that new Bitcoin companies may not survive long-term market volatility.
Strategy's approach to Bitcoin accumulation continues to evoke interest and concern alike. While accumulating assets, questions about the potential market impact remain open.
