Strategy, a frontrunner among public companies in Bitcoin accumulation, recently revealed a notable shift in its purchasing strategy. After a period of aggressive acquisitions, the company has scaled back its weekly Bitcoin buys, prompting market observers to consider the implications of this change for its long-term accumulation trend.
A Notable Slowdown in Accumulation
Last week, Michael Saylor's Strategy significantly reduced its Bitcoin purchases, acquiring just 196 BTC. This figure represents a substantial 76.9% drop compared to the 850 BTC added the week prior, marking a clear deceleration in its buying volume. The latest batch of coins cost approximately $22.1 million, at an average price of around $113,048 per Bitcoin. This slowdown comes after a bustling September for Strategy, which saw the company add 1,955 BTC in one week and an impressive 4,048 BTC the week before that. While Bitcoin's price has remained relatively stable within a range of $110,000 and $118,000 throughout September, the reduced pace from such a prominent corporate buyer is certainly a noteworthy development.
An Expanding Treasury and Robust Profits
Despite the recent dip in purchasing volume, Strategy's overall Bitcoin treasury continues to impress. As of September 29, the company proudly holds a staggering 640,031 BTC. This vast supply was acquired at a total cost basis of $47.35 billion, averaging out to $73,981 per Bitcoin. With the current market price hovering around $112,000, Strategy's total Bitcoin holdings are now valued at approximately $71.7 billion. This translates into an unrealized profit exceeding $24 billion, representing a remarkable 51.4% gain above its cost basis. Strategy maintains its dominant position as the leading public company in terms of Bitcoin holdings, demonstrating both its strategic conviction and the significant returns generated from its early and sustained investment in the digital asset.
