Michael Saylor Teases Another Bitcoin Buy For Strategy
Highlights
- Michael Saylor is hinting at a fresh Bitcoin purchase for Strategy after crossing the 600,000 BTC mark.
- Strategy now holds the ninth-largest US corporate treasury leapfrogging Nvidia.
- Bitcoin treasury companies are keen on extending their purchasing streak into the new week.
Michael Saylor has posted the Strategy (formerly MicroStrategy) portfolio tracker, hinting at an imminent Bitcoin purchase. The company has seen its holdings cross a significant threshold over the last week as it seeks to extend its buying streak.
Michael Saylor To Extend Strategy’s Bitcoin Holdings
Michael Saylor’s Strategy could see its Bitcoin holdings increase in the coming days after its founder signaled a forthcoming purchase. Saylor posted the Strategy portfolio tracker in an X post, a tell-tale sign for an incoming Strategy Bitcoin buy.
Saylor’s Strategy portfolio posts on X have always preceded a Bitcoin purchase announcement for the company. His accompanying caption also alludes to an imminent purchase by the largest Bitcoin treasury company in the world.
“Stay Humble. Stack Sats,” said Saylor.
A look at the portfolio tracker reveals a Bitcoin holding of 601,550 BTC valued at $70.94 billion. Last week, Strategy crossed 600,000 BTC after a $427 million purchase to reach a historic milestone. Prior to the purchase, Michael Saylor’s strategy paused its previous 12-week buying streak as Bitcoin posted new all-time highs.
With sweltering holdings, Strategy moved past Nvidia to become the ninth-largest US corporate treasury, driven by the meteoric rally of the largest cryptocurrency. Despite the surge, ex-Ripple developer Matt Hamilton opines that Strategy’s present valuation could be doubled if Michael Saylor invested in XRP over Bitcoin.
BTC Treasury Companies Increase Their Pace
Led by Michael Saylor’s Strategy, Bitcoin treasury companies added $810 million worth of BTC to their holdings during the last week. Between July 14 and 19, 21 companies bought the top cryptocurrency for their balance sheet, adding nearly $300 million more than the previous week.
The treasury companies were unfazed by Bitcoin’s rally that saw it reach an all-time high of over $123,000. Furthermore, institutions are signaling incoming BTC purchases with 17 treasury announcements and 11 active fundraising activities in the last week to power fresh purchases. At press time, the asset is trading at $118,000, but daily trading volumes are down by 23.64%.
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