Former Strategy CEO Michael Saylor has confirmed that the company intends to continue buying Bitcoin to eventually surpass 500,000 BTC in total holdings.
Saylor has quipped that the company has a strategy to eclipse the aforementioned target.
Strategy is now just 904 BTC away from reaching half a million coins.
Earlier today, Strategy announced that it had purchased roughly $2 billion, which is the biggest purchase of the year so far. This came after the company
Yuri MolchanWho is selling then?
Earlier today, the price of the leading cryptocurrency recently dipped below the $94,000 level, reaching an intraday low of $93,877.
Blockstream CEO Adam Back has attributed recent Bitcoin selling to short-term speculators. It could reduce once they run out of coins to sell. He has noted that ETFs and Strategy are Bitcoin at a rate four times the daily mined supply. In addition to that, a major Bitfinex is now in the process of actively accumulating Bitcoin.
Saylor's SEC meeting
In other news, Saylor recently had a meeting with the SEC's crypto task force on Friday.
The SEC website shows that they had conversations about token taxonomy, specific types of digital assets, and other issues.
However, the shares of Strategy are down 2% over the past 24 hours despite the recent developments.
Dan Burgin
Vladislav Sopov