Saylor Signals Potential Bitcoin Buy Amid Market Dip
Strategy Might Increase Bitcoin Holdings
Strategy co-founder Michael Saylor has hinted at a potential upcoming Bitcoin (BTC) purchase. This comes as Bitcoin's price briefly dipped below its all-time high of $124,000 reached on Thursday.
The company's last recorded Bitcoin acquisition was on Monday, where they acquired 155 BTC for $18 million. This increased their total holdings to 628,946 BTC, currently valued at over $74.2 billion.
According to SaylorTracker, Strategy’s Bitcoin investment is up over 60%, equating to more than $28 billion in unrealized gains.
Strategy has become a Bitcoin proxy investment for institutions facing regulatory hurdles and retail investors seeking simplified crypto exposure.
The company pioneered the corporate Bitcoin treasury model, which has led to the emergence of similar strategies, including altcoin-focused firms.
Saylor's Perspective on Altcoin Treasuries
Saylor has stated he is unconcerned about the increasing number of companies adopting altcoin treasury strategies.
In a recent Bloomberg interview, Saylor stated, "I still think the vast majority of the capital flowing into the space is flowing into Bitcoin."
He added, "We've gone from about 60 companies capitalizing on Bitcoin to 160 companies just in the past six months; so, I'm laser-like focused on Bitcoin."
Since the 2024 US presidential election, Strategy has more than doubled its Bitcoin holdings, accumulating 376,726 BTC within nine months. It took over four years for the company to acquire the initial 252,220 BTC before the accelerated purchase strategy.
Strategy began purchasing Bitcoin in 2020, leading to an almost 2,600% increase in its share price over five years, attracting significant interest from institutional investors, crypto traders, and retail buyers.
According to BitcoinTreasuries, Strategy is the largest corporate holder of Bitcoin. Its holdings surpass the combined Bitcoin reserves of the top 10 Bitcoin treasury companies, giving it a considerable advantage.