Michael Saylor’s bitcoin-focused company, Strategy, confirmed on Tuesday that it purchased approximately $2.13 billion in bitcoin over eight days from January 12 to January 19, acquiring roughly 22,305 coins. The purchases were funded through the company’s at-the-market share offering program, highlighting a continued aggressive accumulation strategy even as both Strategy shares and bitcoin faced recent price pressure. Shares of the company slid about 7.4% during the period, while bitcoin itself fell 3.6%, reflecting ongoing volatility in the cryptocurrency market.
This latest buying spree brings Strategy’s total bitcoin holdings to 709,715 coins as of January 19, according to Saylor. Despite reporting an unrealized $17.44 billion loss on its digital assets in the fourth quarter, the firm remains committed to a long-term accumulation approach, signaling confidence in bitcoin’s future appreciation. Analysts note that halting purchases now could have sent a negative signal to the market, suggesting that the balance sheet might not withstand further downward price pressure, potentially impacting both Strategy’s stock and overall bitcoin sentiment.
Strategy, originally founded as software company MicroStrategy, pivoted to bitcoin acquisition in 2020 and has since become one of the most high-profile institutional holders in the crypto space. Experts highlight that the firm’s focus is no longer on quarterly earnings but rather on growing bitcoin per share, reflecting a broader trend among institutional investors adopting long-term cryptocurrency strategies.
The implications of this move are significant for both the market and sentiment. Large-scale purchases by institutional players like Strategy provide support for bitcoin prices and signal confidence to retail and professional investors alike. However, the scale of unrealized losses underscores the risks inherent in holding digital assets amid periods of market turbulence.
Looking forward, Strategy’s continued buying strategy may influence other institutional investors to maintain or increase exposure to bitcoin, potentially shaping market trends over the coming quarters. For Saylor and his firm, the message is clear: bitcoin remains a core asset, and long-term conviction outweighs short-term volatility.
