Michael Saylor’s firm Strategy, the biggest corporate holder of Bitcoin worldwide, expanded its BTC reserves last week following the U.S. Federal Reserve’s first interest rate reduction of the year.
According to a filing with the U.S. Securities and Exchange Commission on Monday, Strategy picked up 850 BTC, worth roughly $99.7 million, during the week ending Sunday.
The company paid an average of $117,344 per Bitcoin, making the purchase just as BTC briefly touched multi-week highs above $117,000 on Thursday, fueled by the Fed’s 25-basis-point rate cut, CoinGecko data shows.
With this addition, Strategy now controls 639,835 BTC in total, accumulated for about $47.3 billion at an average entry price of $73,971 per coin.
Buying pace cools as Bitcoin trades sideways
The latest acquisition fits into a recent pattern of smaller buys compared to earlier in the year.
In September so far, Strategy has secured 3,330 BTC — far fewer than August’s 7,714 coins, which itself marked a steep 75% drop from July’s massive 31,466 BTC purchase.
Saylor has acknowledged that Bitcoin’s recent low volatility feels unusual, especially as large institutions continue entering the market.
“If volatility keeps falling as institutional adoption rises, things will seem dull for a while — and when Bitcoin gets boring, people lose that adrenaline hit,” he commented in a recent interview.
Other players ramping up
While Strategy has slowed its accumulation, other corporations are leaning in. Japanese firm Metaplanet revealed on Monday that it bought 5,419 BTC, pushing its holdings to 25,555 coins, making it the fifth-largest public company holder of Bitcoin.
Meanwhile, Saylor is preparing to attend a government roundtable this week to discuss the proposed U.S. Bitcoin reserve legislation, known as the BITCOIN Act.
The bill, first put forward by Senator Cynthia Lummis in July 2024, calls for the U.S. government to purchase 200,000 BTC annually over five years — a total of 1 million coins — as part of a national reserve strategy.
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