Michael Saylor hints at a fresh Bitcoin purchase despite NAV collapse

Michael Saylor has indicated that his company, Strategy (formerly known as MicroStrategy), might be looking to buy more Bitcoin despite the pressures faced by corporate Bitcoin treasuries from declining net asset values (NAV). In a recent post on X, he shared a chart that highlighted Strategy's cumulative Bitcoin purchases. The chart revealed that Strategy holds 640,250 BTC, which is valued at approximately $69 billion, a significant increase from its average cost basis of $74,000 per coin. This has sparked speculation among traders about a potential imminent purchase. Data shows that Strategy is the leading corporate Bitcoin holder globally, accounting for nearly 2.5% of Bitcoin's total supply. However, the corporate Bitcoin treasury sector has had a tumultuous year, with many firms, including Metaplanet, seeing their market value dip below their Bitcoin reserves for the first time. Analysts have reported that numerous Bitcoin treasury firms have lost billions in paper wealth as the valuations of their company shares have drastically decreased.

Source 🔗