Michael Saylor Indicates Resumption of Bitcoin Purchases After Brief Pause
- Strategy co-founder Michael Saylor announced the company will resume buying Bitcoin after a one-week hiatus.
- During the previous week, Strategy raised $4.2 billion in capital and did not purchase any BTC.
- Before the break, Strategy accumulated Bitcoin for twelve consecutive weeks, totaling over $70.9 billion in holdings.
- The last purchase occurred on June 30, acquiring 4,980 BTC for $532 million.
- In Q2, Bitcoin treasury companies purchased a total of 159,107 BTC, with Strategy being the largest corporate holder.
- Currently, institutional treasuries hold approximately 3.5 million BTC.
The demand from Bitcoin treasury companies like Strategy is significantly outpacing newly-mined supply, which could lead to market shifts as they accumulate more BTC than miners produce daily.
With a total of 597,325 BTC held by Strategy alone, their buying behavior continues to shape the market landscape significantly.(Source)
