After a short break, Michael Saylor’s company, Strategy (formerly MicroStrategy), is back in Bitcoin accumulation mode. The firm made headlines last week with a massive $742.4 million purchase of 7,633 BTC between February 3 and February 9. This move follows a 12-week, $20 billion Bitcoin buying streak that briefly paused in late January.

Back in Action

Strategy’s latest purchase brings its total Bitcoin holdings to 478,740 BTC—currently valued at around $46.5 billion, according to CoinGecko. The Nasdaq-listed company has been a key player in the institutional Bitcoin space since it first started acquiring the cryptocurrency in August 2020, with its investment strategy centered on Bitcoin as a hedge against inflation.

Despite the temporary halt in acquisitions, Saylor assured investors that Strategy’s long-term Bitcoin plan remains intact. The company had paused Bitcoin purchases and did not sell any shares under its at-the-market equity offering program in late January. However, the recent acquisition signals that Strategy is continuing its aggressive approach to Bitcoin accumulation.

The 21/21 Plan

Last year, Strategy announced its ambitious “21/21 Plan” to raise $42 billion for Bitcoin acquisitions. The strategy aims to secure $21 billion through equity sales and another $21 billion via fixed-income securities. With an average purchase price of $65,033 per Bitcoin, the company is firmly committed to its long-term vision of Bitcoin adoption.

The company’s recent rebrand from MicroStrategy to Strategy reflects its shift from a software firm to a Bitcoin-centric entity. According to Saylor, this was a “natural evolution” for the firm as it prioritizes Bitcoin-focused financial strategies. Since first entering the Bitcoin market, Strategy’s stock has surged over 2,200%, attracting investors looking for indirect exposure to the cryptocurrency.

As a result, Strategy is now a part of the Nasdaq-100 index, standing alongside major tech giants like Apple and Microsoft. This underscores the growing intersection between traditional financial markets and Bitcoin-focused corporate strategies.

Skepticism in the Market

While Strategy’s Bitcoin bet has paid off so far, some analysts question its sustainability. The firm’s valuation has skyrocketed alongside Bitcoin’s price, but market volatility remains a key risk factor. With Bitcoin currently hovering around $97,757, the company’s investment strategy faces scrutiny, especially as regulatory discussions around Bitcoin ETFs and institutional adoption evolve.

Despite concerns, Saylor remains undeterred in his belief that Bitcoin is the ultimate store of value. As Strategy continues its aggressive Bitcoin accumulation, the company is cementing itself as one of the biggest corporate holders of the cryptocurrency.

With Bitcoin’s price rallying and institutional adoption increasing, all eyes are on Strategy’s next move in the crypto market.

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