Michael Saylor signals Bitcoin buy after one-week hiatus

Strategy co-founder Michael Saylor signaled that Strategy would resume Bitcoin 

BTC$118,548buying on Monday after the company took a week-long hiatus from accumulating the digital asset.

“Some weeks, you don’t just HODL,” the executive  wrote  on Sunday. The company skipped buying BTC last week but  announced a $4.2 billion capital raise . Before the break, Strategy racked up 12 consecutive weeks of BTC accumulation.

Strategy’s  most recent BTC buy  occurred on June 30, when the company bought 4,980 BTC for $532 million, bringing its total holdings to 597,325 BTC, valued at over $70.9 billion.

  A history of Strategy’s Bitcoin buys. Source: Strategy

Shares of the company are trading hands at about $434 and are up over 16% this month, but still trail the all-time high of $543 per share hit in November 2024.

Bitcoin treasury companies  are now major players in the Bitcoin market, scooping up BTC at a faster rate than it is mined. This demand could  cause a supply shock  and drive prices higher, though some analysts warn that  debt-fueled institutional BTC buying is unsustainable  and could trigger a systemic market downturn.

Bitcoin treasury companies outstripping newly-mined supply

Bitcoin treasury companies  bought 159,107 BTC in Q2 , led by Strategy, which is the largest corporate holder of BTC, according to  BitcoinTreasuries .

  Total amount of Bitcoin held in institutional treasuries. Source: BitcoinTreasuries

There are currently 3.5 million BTC held in institutional treasuries, which include public companies, private enterprises, crypto firms, government organizations, pension funds, and asset managers,  data  from the site shows.

In April, Adam Livingston, the author of  "The Great Harvest: AI, Labor, and the Bitcoin Lifeline," said that  Strategy is “synthetically halving” Bitcoin  through the rapid accumulation of the digital currency.

Miners collectively produce around 450 BTC per day, or about 13,500 BTC per month, while Strategy accumulated 379,800 BTC in six months, according to Livingston.

  The miner reserve metric, which tracks the total number of BTC held by all miner wallets, continues to plummet. Source: CryptoQuant

“Strategy has accumulated 379,800 in the past 182 days. That's 2,087 BTC per day — far outpacing the miners,” Livingston  wrote , while forecasting the Bitcoin treasury company to become the “financial superpower” of the future.