Strategy Ramps Up Bitcoin Accumulation with 8,178 BTC Purchase
Strategy bets another $835M on BTC as prices fall
Michael Saylor's Strategy has resumed aggressive Bitcoin buying, snapping up 8,178 BTC for about $835 million even as the cryptocurrency’s price comes under pressure.
According to a Monday filing with the United States Securities and Exchange Commission, the company led by executive chair Michael Saylor disclosed its latest purchase, marking a sharp acceleration from the roughly 400 to 500 bitcoins it had been adding each week in October and early November. The move signals that Strategy is doubling down on its long-term conviction in BTC despite short-term volatility.
The buy came during a choppy week for Bitcoin. Data from blockchain analytics firm Nansen showed BTC sliding around 11% over the previous seven days, trading near $94,191 at the time of the filing. The downturn has not shaken Strategy’s approach of systematically accumulating Bitcoin, a strategy it began in August 2020.
With this latest purchase, Strategy’s total holdings have climbed to about 649,870 BTC, keeping it firmly in place as the world’s largest corporate Bitcoin treasury. In the wider crypto corporate landscape, BitMine Immersion Technologies is reported to hold the largest Ether position, while Forward Industries has the biggest Solana stash.
Market pressure has not been limited to Bitcoin’s spot price. Shares of Strategy’s Nasdaq-listed stock, MSTR, have also felt the heat, dropping more than 16% over the last five days to around $197.03 at the time of publication.
The company is also facing louder critics. Over the weekend, long-time gold advocate and vocal Bitcoin bear Peter Schiff publicly challenged Saylor to a live debate at Binance Blockchain Week in Dubai this December, claiming that Strategy’s “entire business model is a fraud.” As of publication time, Saylor had not responded publicly to Schiff’s invitation.
