Saylor Drops Hint at Next Move for Strategy
Michael Saylor, co-founder and executive chairman of Strategy, has once more caused a stir among the community of Bitcoin (BTC). Saylor hinted at another massive Bitcoin purchase on April 27 through a simple X (formerly Twitter) tweet: “Stay Humble. Stack Sats.” The tweet comes just a week after Strategy announced a $555 million Bitcoin purchase at an average price of $84,785 per coin.
The mystery post has generated widespread speculation among Bitcoin investors. Blockchain commentator RunnerXBT suggested that the following acquisition may be much larger, estimating at $1.4–$1.6 billion. If accurate, it would triple Strategy’s recent buy and solidify its position as the world’s largest corporate Bitcoin holder.
According to Bitbo, Strategy currently holds over 538,200 Bitcoin worth over $50.5 billion. Strategy’s Bitcoin strategy has acted as a role model for other businesses considering Bitcoin as a treasury reserve asset.
Strategy’s Impact on Bitcoin Adoption
Strategy has significantly influenced corporate Bitcoin adoption. Its pushy accumulation strategy has compelled companies globally to take a bite into Bitcoin investment. Japanese investment firm Metaplanet, for instance, recently hit 5,000 BTC holdings as of April 24. The move makes Metaplanet an Asian Bitcoin adoption behemoth, signaling heightened global appetite for Bitcoin as a strategic asset.
Whales and Institutions Accelerate Accumulation
It’s not the only Strategy making news. Institutional investors of large Bitcoins, or “whales” as they’re also referred to, have been buying Bitcoin aggressively in April. Glassnode statistics show the number of wallets holding at least $1 million in Bitcoin increased from 124,000 on April 7 to more than 137,600 by April 26.
Nexo analyst Iliya Kalchev noted that wallets containing over 10,000 BTC are also piling up at a murderous pace, as evident through a trend score of 0.90. Meanwhile, retail investors are increasingly moving towards long-term holding, another bull signal for Bitcoin’s price bounce back above $94,000.
Bitcoin ETFs See Record Inflows
Complementing the push on Bitcoin are strong flows into US spot Bitcoin exchange-traded funds (ETFs). Net investment into these ETFs was over $3 billion last week, their second-largest week of investment since they debuted.
Market participants are already anticipating Monday’s announcement of a repeat record Bitcoin buy by Saylor and Strategy that can propel Bitcoin’s rally even further.
