Michael Saylor Alludes to New Bitcoin Acquisition Amidst NAV Downturn
Michael Saylor indicates that Strategy might acquire more Bitcoin, even as corporate Bitcoin treasuries experience significant challenges due to declining asset values.
Michael Saylor has hinted that Strategy, previously known as MicroStrategy, may soon purchase additional Bitcoin after unveiling a chart that indicates the company holds $69 billion worth of BTC.
In a post on X this past Sunday, Saylor shared details through the Saylor Bitcoin Tracker, illustrating Strategy’s substantial Bitcoin buys. He noted, “The most significant orange dot is always the next.”
The tracker compiles information from 82 separate transactions, demonstrating that Strategy currently possesses 640,250 BTC, approximately worth $69 billion at current market rates, reflecting a 45.6% increase from their average purchase price of $74,000 per coin.
This announcement has sparked speculation among traders regarding a potential forthcoming Bitcoin acquisition. Saylor’s prior similar posts have often preceded announcements about new purchases by Strategy.
Saylor hints at upcoming Bitcoin purchase. Source: Michael Saylor
Related: Strategy added 220 BTC for $27.2M last week as Bitcoin posted new highs
Strategy Leads in Global Bitcoin Treasuries
According to BitcoinTreasuries.Net, Strategy holds the title of the world’s largest corporation in Bitcoin ownership, with 640,250 BTC, constituting nearly 2.5% of the global Bitcoin supply. This outpaces the total reserves of the top 15 public miners and corporate clients.
In second position is MARA Holdings (formerly Marathon Digital) with 53,250 BTC valued at around $5.7 billion, followed by XXI (CEP) which holds 43,514 BTC, roughly $4.7 billion in value. Japan’s Metaplanet (MTPLF) ranks fourth with 30,823 BTC, while Bitcoin Standard Treasury Company (CEPO) rounds out the top five with 30,021 BTC.
Moreover, many publicly traded firms in the US, such as Riot Platforms, CleanSpark, Coinbase, and Tesla, maintain sizeable Bitcoin holdings. Collectively, the top 15 public companies possess over 900,000 BTC.
Top 15 Bitcoin treasury firms. Source: BitcoinTreasuries.Net
Related: Understanding Saylor’s Strategy for Continuous Bitcoin Purchases
Plummeting Bitcoin Treasury NAVs
This news arrives following a challenging year for corporate Bitcoin treasuries. A report by 10x Research indicated that Bitcoin treasury firms have witnessed enormous declines in their NAVs, erasing billions in theoretical wealth.
Analysts commented that the expansion of Bitcoin treasury companies, which issued shares significantly exceeding their actual BTC worth, has now reverted, leaving retail investors with considerable losses as companies amassed genuine Bitcoin.
Recently, Metaplanet saw its market value drop below its Bitcoin holdings for the first time, with the company’s market-to-Bitcoin NAV ratio reduced to 0.99, indicating that investors currently value the firm at less than the value of its Bitcoin assets.
