Michael Saylor posted a Bitcoin chart on X on June 1, hinting at another Strategy Bitcoin purchase.
The chart showed Bitcoin trading above $104,000. In the caption, he wrote,
“Orange is my preferred color.”
This marked the eighth week in a row Strategy hinted at or confirmed BTC purchases.
The company’s last official BTC acquisition took place on May 26, when Strategy added 4,020 BTC to its holdings.
At the time, Bitcoin traded at around $106,000, placing the value of that purchase at $427 million.
The data was published by SaylorTracker, a website that monitors all of Strategy’s Bitcoin buys.
According to the same data, the company now holds 580,250 BTC in its corporate treasury. This figure makes Strategy the most prominent institutional Bitcoin buyer in the market today.
Strategy BTC Investment Tops $20B in Unrealized Gains
With Bitcoin trading at $104,859 on June 1, Strategy’s unrealized profits have passed $20 billion.
These figures are based on the total BTC held by the company and the average entry prices collected by SaylorTracker.
The company started accumulating Bitcoin in September 2020. Since then, it has made regular BTC acquisitions, often during times of price correction.
The firm usually buys Bitcoin through over-the-counter desks to avoid price slippage on open exchanges.
Data from Bitcoin Treasuries confirms Strategy holds more Bitcoin than the United States and China combined.
The U.S. government reportedly holds 207,189 BTC, and China holds 190,000 BTC. Strategy’s total of 580,250 BTC surpasses both.
Proof of Reserves Debate Emerges Around Strategy’s BTC Holdings
Despite the large Bitcoin stash, many in the crypto community are demanding a proof of reserves. Critics argue that Strategy has not provided transparent blockchain evidence to verify its holdings.
A reply to Saylor’s June 1 post read:
“No proof of reserves is your preferred ‘trust me bro.’ When mempool? Or too scared to show that you do not have Bitcoin, but instead paper Bitcoin?”
The concern is tied to the lack of regular public BTC audits. Some market participants say Strategy should sign messages from its Bitcoin wallets to confirm ownership.
However, Saylor previously stated that proof of reserves could increase security risks for large holders. Revealing wallet addresses could expose the firm to tracking and external threats.
Industry participants agree that the transparent nature of public blockchains may deter institutions from going fully on-chain.
Wallet visibility opens the door to unwanted surveillance or phishing attacks. For this reason, companies like Strategy often choose not to disclose full wallet access.
Bitcoin Holdings Continue to Grow as Saylor Gains More Reach
Saylor’s personal following on X has grown to 4.4 million, as his posts continue to attract attention across the crypto sector.
Each time he posts a Bitcoin chart or message, it raises questions about a new Strategy Bitcoin purchase.
Data from SaylorTracker confirms that the company has been increasing its Bitcoin holdings every week since early April. The buys range from hundreds to thousands of BTC, depending on price and market conditions.
Analysts from CryptoQuant noted that these frequent BTC buys by a single firm can affect market supply. Similarly, Sygnum Bank executives told Cointelegraph that if institutional buyers like Strategy continue at this pace, they may trigger a supply squeeze.
The firm’s aggressive BTC acquisition campaign began almost five years ago. It has continued without major breaks, even during bear markets and regulatory shifts.
The link between Strategy BTC investment and market behavior remains a topic of discussion among investors.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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