Michael Saylor’s Strategy, the most important company holder of Bitcoin, doesn’t attempt to affect the worth of Bitcoin when it executes its buys, in keeping with the manager who oversees the corporate’s huge BTC treasury.
“The means we purchase Bitcoin is we don’t transfer the worth of the Bitcoin,” Strategy’s company treasurer and head of investor relations, Shirish Jajodia, instructed Natalie Brunell on the Coin Stories podcast on Wednesday.
Market contributors typically speculate that Strategy’s vital Bitcoin (BTC) acquisitions assist push the worth of Bitcoin, however Jajodia says the agency rigorously constructions its purchases to keep away from impacting the market.
Strategy began accumulating Bitcoin in 2020 and, on the time of publication, holds 629,376 Bitcoin, value roughly $70.85 billion, in accordance to SaylorTracker.
“We handle our buys in a means that we’re type of some proportion of the market liquidity,” he defined. “So we don’t eat up into the worth of Bitcoin,” he added.
One means that firms handle vital transactions with out affecting market costs is thru Over-the-Counter (OTC) desks, which permit trades to happen privately moderately than on public trade order books.
All eyes on Strategy’s Bitcoin buys
Jajodia could also be telling the reality, as Cointelegraph discovered that Bitcoin has had blended conduct round Strategy’s most vital purchases, with some situations the place Bitcoin rose, and others the place it fell after a Strategy purchase.
On Nov. 25, the corporate stated it had acquired roughly 55,000 Bitcoin for $5.4 billion between Nov. 18 and 24, at a median value of $97,862 per coin.
Just a number of weeks later, on Dec. 17, Bitcoin reached an all-time excessive above $106,000, amid a broader rally following Donald Trump’s US election victory, CoinMarketCap information reveals.
In one other case on July 29, Strategy purchased 21,021 BTC for about $2.46 billion, but inside 4 days the worth fell almost 4%, sliding to $113,320 by Aug. 2.
Despite this, merchants typically nonetheless get excited when Saylor posts a Bitcoin value chart within the hopes the corporate will announce one other massive Bitcoin buy.
Strategy is shopping for Bitcoin “across the clock,” Jajodia says
Jajodia stated the agency adjusts the timing of its Bitcoin purchases relying on market situations, however is energetic out there more often than not. “We’re really shopping for Bitcoin across the clock. Almost every single day, each hour, each second we’re out there,” he stated.
“If it’s taking place, we are able to take the chance to maneuver quicker,” he stated.
Related: Strategy hits 4-month low as Saylor adjustments tack on MSTR issuance
Saylor has typically instructed to his 4.5 million followers that he doesn’t care what value Bitcoin is; he’s simply accumulating to make his stack as massive as doable.
On May 22, Saylor wrote in an X put up, “I solely purchase Bitcoin with cash I can’t afford to lose,” after Bitcoin fell from its earlier excessive of $112,000.
Similarly, in late 2024, Saylor pledged to maintain shopping for BTC at peak costs regardless of how excessive costs would go.
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