Michael Saylor’s Strategy (formerly MicroStrategy) has added 220 Bitcoin worth US$27.2 million (AU$41.98 million) to its treasury. The chairman and founder posted the update on Crypto Twitter. This brings the company’s total holdings to 640,250 BTC, acquired at roughly US$74k (AU$114.2k) per coin.
Interestingly, the purchase was made at US$123,561 (AU$190,737) per BTC, and Bitcoin has since fallen to US$113,376 (AU$175,014) at the time of writing (though it was much lower at some point over the weekend following the crypto crash).
Gold bug Peter Schiff was quick to point out the timing of Strategy’s buys, and it’s true that Saylor has a history of buying the top.
Still, other community members have argued that it’s hard to time markets, with one noting that Saylor “doesn’t care about the day-to-day price” and that Bitcoin is “still at cheap levels compared to where it will be in the future”.
Saylor’s conviction for BTC is well documented. He even went so far as to say that he will be “buying the top forever”, because he believes “Bitcoin is the exit strategy”.
Related: Ripple Launches $200K “Attackathon” to Expose Flaws in XRP Ledger Lending Protocol
While Strategy remains the largest public company to hold Bitcoin, with around 3% of Bitcoin’s total 21 million supply, other large holders – such as exchange-traded funds (ETFs) – have mostly been selling, as data shows.
Although BlackRock’s IBIT has continued accumulating for ten straight days, other US spot Bitcoin ETFs have started to offload. Fidelity’s FBTC saw US$93.3 million (AU$144.1 million) in net outflows on Monday, while Bitwise’s BITB topped that with US$115.6 million (AU$178.55 million). Grayscale’s GBTC saw even larger outflows, totalling US$145.4 million (AU$224.6 million).
ARK’s ARKB saw US$21.1 million (AU$32.59 million) in net outflows, and VanEck’s HODL recorded US$11.4 million (AU$17.6 million). In total, US$326.4 million (AU$504.3 million) flowed out of US funds on Monday.

Despite these outflows, US spot Bitcoin ETFs remain the fastest-growing ETFs in history. Combined, they now hold a larger share of BTC than Saylor’s Strategy, with ETFs globally accounting for about 7.4% of all Bitcoin.
Related: BoE’s Andrew Bailey Pledges Stronger Global Oversight as Stablecoin and Private Finance Risks Grow
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