Michael Saylor Signals Bitcoin Buying Resumes After Brief Pause
Bitcoin advocate and Strategy co-founder Michael Saylor has indicated that the firm will resume its aggressive Bitcoin accumulation, following a one-week break. The announcement comes after Strategy completed a $4.2 billion capital raise, setting the stage for further acquisitions of the world’s leading cryptocurrency.
Strategy Ends One-Week BTC Accumulation Pause
In a Sunday post, Saylor hinted that Bitcoin purchases would recommence this week, stating, “Some weeks, you don’t just HODL.” The comment followed a rare pause in Strategy’s buying spree, which had previously spanned 12 consecutive weeks of Bitcoin acquisitions.
The company’s most recent purchase took place on June 30, when it added 4,980 BTC to its reserves for approximately $532 million, bringing its total holdings to 597,325 BTC — currently valued at over $70.9 billion.
Despite the pause, Strategy has continued to solidify its position as the largest corporate holder of Bitcoin, and its latest fundraising effort is expected to fuel additional purchases. Strategy’s stock (STRAT) is currently trading at $434, up over 16% this month, although still below its all-time high of $543, reached in November 2024.
Institutional Buying Outpaces Bitcoin Supply
Strategy is part of a growing group of Bitcoin treasury companies that are accumulating BTC at an unprecedented pace — far outstripping the rate at which new Bitcoin is mined.
According to BitcoinTreasuries, institutional investors collectively purchased 159,107 BTC in Q2, with Strategy leading the charge. As of now, an estimated 3.5 million BTC is held in institutional treasuries, including holdings by public corporations, private enterprises, crypto-native firms, government entities, pension funds, and asset managers.
This aggressive accumulation has led some analysts to warn of a potential supply shock, as demand continues to exceed newly mined supply, which is currently around 450 BTC per day (or approximately 13,500 BTC per month).
Strategy’s “Synthetic Halving” Strategy
In an April commentary, Adam Livingston, author of The Great Harvest: AI, Labor, and the Bitcoin Lifeline, described Strategy’s strategy as a form of “synthetic halving.”
“Strategy has accumulated 379,800 BTC over the past 182 days, which equates to an average of 2,087 BTC per day — more than four times the daily output from miners,” he noted.
Livingston suggested that Strategy’s accelerated acquisition could have the same effect as a halving event, where the rate of Bitcoin issuance is reduced. By soaking up such a large portion of available supply, Strategy could potentially reshape market dynamics, and even position itself as a “financial superpower” in the digital asset space.
Market Outlook and Risks
The rising influence of Bitcoin treasury companies, and Strategy in particular, has become a major narrative in the crypto market. Their buying activity not only adds institutional legitimacy to Bitcoin but could also contribute to price volatility — especially if these purchases are funded by debt instruments, a concern raised by some market observers.
While the demand surge has been bullish for BTC, critics warn that debt-fueled accumulation is unsustainable in the long term and could pose systemic risks if not managed prudently.
Nevertheless, with new capital in hand and clear signals from Saylor, Strategy appears poised to continue its march toward expanding its Bitcoin holdings, reinforcing its status as the dominant institutional player in the crypto asset class.
