Bitcoin Ruler: Strategy Passes 700,000 BTC, What % of Supply Do They Control?
Strategy continues to reign supreme Bitcoin Treasury Company. During this time, the company has increased its shares, exceeding 700,0000 BTC in the process, and currently holds more than 3% of the total value of Bitcoin.
The Strategy Now Holds 3.4% of Bitcoin Supply as Top Holdings 700,000 BTC
Michael Saylor’s strategy it now holds about 3.4% of the total Bitcoin supply as the company increased its holdings to over 700,000. In a Press releasethe company revealed that it received 22,305 BTC for $2.13 billion at an estimated value of $95,284 per Bitcoin last week. It now holds 709,715 BTC, which fetched $53.92 billion at an estimated value of 75,979.
The purchase was Strategy’s largest weekly announcement since November 2024 and its fifth largest announcement. It also came just a week after the company announced that it had acquired 13,627 BTC for $1.25 billion. Meanwhile, this latest purchase came amid a downturn BTC trading fee.
Bitcoin fell below $90,000 yesterday for the first time since the beginning of the year, dragging the stock with it. MSTR fell as much as 8% yesterday, falling to around $160. The stock is still up more than 3% year to date (YTD). However, it’s worth noting that Saylor and his company continue to downsize Shares of MSTR to buy more Bitcoin. The company sold 10.4 million MSTR shares last week to fund most of these recent purchases.
Reaction to Recent BTC Purchases
Market analyst Rob commented that Strategy no longer highlights BTC yield as a primary metric. He went on to say that even after buying more than 35,000 BTC in the first few weeks of this year, the BTC yield achieved is 0.4%, which equates to an annual average of about 6% to 10%. The analyst also noted that Bitcoin’s law of diminishing returns means that the ability to deliver returns diminishes as the BTC stack grows.
With Strategy now holding over 700,000 BTC, Rob explained that it is difficult to generate returns. According to him, this means that going forward, the game is about pushing the price of Bitcoin itself higher rather than increasing BTC per share. He added that this also explains why mNAV of MSTR it folded to just over 1x.
Crypto analyst Ran Neuner warned that a company like Strategy buying and holding lots of stocks is not healthy. He added that currently, Saylor and his company are the only ones who actually buy Bitcoin. Meanwhile, the market expert Bit Paine said it is a market failure that allowed Saylor to buy this much BTC values under $100,000.
At the time of writing, the price of BTC is trading around $90,000, down from the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
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