- Saylor hints at an incoming announcement regarding Strategy’s Bitcoin purchase last week.
- The business intelligence company now holds 628,946 BTC, accumulated for $46.09 billion.
Michael Saylor, co-founder and executive chairman of Strategy (formerly MicroStrategy), recently hinted at their company’s incoming Bitcoin (BTC) purchase announcement. In a post on social media platform X (formerly Twitter), he said, “Insufficient orange.”
In the context of Saylor’s statement, the color orange symbolizes Bitcoin. The post on Sunday also came with a screencap from the Saylor/Strategy Tracker website recording all of their company’s BTC purchases since August 11, 2020.
Usually, these kinds of posts often tease Strategy’s big announcements on Mondays.
Strategy’s Bitcoin Holdings
Strategy has been unrelenting in its Bitcoin purchase, revealing one purchase after the other almost each week, even when BTC prices are at near all-time high levels. So far, the business intelligence firm has accumulated 628,946 BTC, making up 2.99% of Bitcoin’s 21 million total supply.
The company has already spent $46.09 billion on its Bitcoin buying program. This translates to a dollar-cost average of $73,288 per BTC.
As of last week’s update, Strategy’s BTC yield stood at 25% year-to-date (YTD). BTC yield is a key performance indicator (KPI) representing the company’s Bitcoin holdings against its diluted shares.
Strategy is currently the world’s top publicly traded company in terms of Bitcoin holdings. Besides Satoshi Nakamoto’s untouched BTC stash, BlackRock’s BTC reserves for the iShares Bitcoin Trust surpassed Strategy’s numbers.
More Criticisms on Saylor and Strategy’s BTC-Fueled Treasury
Commenting on the data shown on the Saylor/Strategy Tracker site, the pseudonymous Financial Freedom, whose account is followed by several recognizable names in the crypto community, pointed out that Strategy apparently had very few buys at the bottom of BTC’s prices during the long crypto winter that lasted from 2022 to 2024. He criticized how the company only accelerated its purchases near all-time highs.
The crypto personality questioned if the trend was only due to Saylor and Strategy not having the same conviction at that time, or not having enough cash to top up their BTC coffers. Additionally, he alleged that they are exhibiting the same psychological behavior as retail FOMO (fear of missing out).
The commenter claimed that Saylor and Strategy don’t appear to be wary of a potential pullback, which could drive prices down by 50%. Likewise, he questioned how the company and others still view their long-term scheme, which could span 30 to 50 years, as a “smart play.”
Overall, Financial Freedom opined that it should have made more sense for Strategy to accumulate during massive pullbacks on a lower cost basis and to get the most ROI (return on investment) instead of buying around all-time highs.
“Weird buying strategy. That’s all. But time will tell,” the crypto personality concluded.
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