Michael Saylor’s Strategy has unveiled its latest Bitcoin acquisition, which has taken its holdings to the 3.2% BTC supply milestone.
Like is tradition, the Monday purchase was preceded by a Saylor X post on Sunday with the company’s treasury portfolio tracker. This time, the chairman used the caption “Needs More Orange.”
As displayed in the above graph, the latest acquisition completed by the company is relatively small, with both the last two buys of 4,048 BTC and 3,081 BTC being larger. The last five buys all pale in comparison to some of the purchases made earlier in the year, however, implying a bit of a slowdown for the company in general.
While buying may no longer be as intense anymore, the firm’s reserves are still holding up well in terms of profitability. The company’s stack currently values at $71.82 billion, which puts it around 52.26% above water compared to its investment of $47.17 billion.
The above chart shows the trend in the BTC treasury company buyers participating in accumulation every day. At the peak of the frenzy in July, the rate of these firms purchasing per day stood at more than 3.8. Today, this value has dropped to just 2.2.
“Treasury Company demand continues to collapse,” notes Edwards. Though, while demand may be dropping, it’s still significantly higher than historical levels, at least for now.
Bitcoin is making another go at recovery as its price has climbed to the $112,700 mark.
