Michael Saylor, the eccentric co-founder of Strategy, has strongly hinted at yet another Bitcoin purchase.
As reported by U.Today, Strategy announced an additional $427.1 million Bitcoin purchase last week.
It remains to be seen whether the purchase will be able to move the market.
Usually, Strategy's Bitcoin purchases result in very little volatility since they are widely priced in by the market. Of course, this does not mean that Strategy's massive buying streak is insignificant. As reported by U.Today, banking giant JPMorgan recently identified these purchases as one of the key bullish catalysts for Bitcoin that could help the cryptocurrency outperform gold in the second part of the year after lagging behind the lustrous metal in early 2025.
Recently, Saylor attracted fresh criticism after rejecting the idea of publishing on-chain proof-of-reserves, citing security concerns. The statement was widely slammed within the cryptocurrency community, with many analysts noting that the concerns are overblown since some reputable firms perform proof-of-reserves without compromising their security.
Saylor's controversial comment also helped fuel conspiracy theories about Strategy allegedly holding paper Bitcoin. Later, Arkham Intelligence, a popular analytics firm, stated that it had managed to track down the Bitcoins associated with Strategy.
Earlier this week, the billionaire also opined that it would get "exponentially harder" to actually buy Bitcoin.
U.Today Editorial Team
Vladislav Sopov