Strategy co-founder Michael Saylor has posted a Bitcoin (BTC) chart showing the company’s imminent BTC acquisition, marking the company’s eighth consecutive purchases during this latest purchase stint.
“Orange is my favorite colour,” Saylor wrote to her 4.4 million followers on X. This is a figure that has grown steadily over the past two years as strategy co-founders have attracted media attention due to the company’s corporate financial planning.
The latest Bitcoin acquisition of 4,020 BTC on May 26 was worth around $427 million at the time of purchase, bringing total strategy holdings to 580,250 BTC.
This makes the strategy a single known Bitcoin holder, with the company’s BTC holdings increasing the amount of BTC held by the US and Chinese governments.
Strategy is synonymous with Bitcoin, and many traders consider it to be a proxy bet for digital assets.
According to CrytoQuant analyst Ki Young Ju, the company’s rapid accumulation of BTC is already changing market dynamics. An executive at Crypto-Native Sygnum Bank told Cointelegraph that purchasing the facility could cause supply shocks and send BTC prices higher.
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The debate explodes over the reserve evidence of Bitcoin in strategy
The strategy is characterized as a new financial superpower by authors like Adam Livingston. However, not all investors are convinced by the Bitcoin accumulation reported by Strategy.
As the number of market participants is growing, the strategy has expressed criticism and doubt that it does not have Bitcoin in the company’s Treasury, citing the lack of proof of regular preliminary audits.
One individual responded to Saylor’s impending acquisition post by asking “The evidence of reserves is your preferred ‘Trust me with my peers’.” When is Mempool scary?
https://www.youtube.com/watch?v=uc28jtzfina
Strategy co-founders argue that proof of preliminary audits is high risk for large corporations and institutions, as they open the institution’s wallets for tracking and unwanted attention from potential threat actors.
This high degree of transparency, inherent in public blockchains, is often cited as one of the main obstacles for institutions that place business operations on-chain.
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