Bitcoin-focused firm Strategy, led by billionaire Michael Saylor, said it purchased about $2.13 billion worth of bitcoin over an eight-day period, accelerating acquisitions despite ongoing volatility in the cryptocurrency market.
According to a regulatory filing, the company bought approximately 22,305 bitcoin between January 12 and January 19. The purchases were funded through proceeds from Strategy’s at-the-market share offering program.
The buying spree came as Strategy’s shares fell roughly 7.4% and bitcoin declined about 3.6%, reflecting broader market turbulence. Analysts said continued buying is closely watched by investors given Strategy’s strong association with bitcoin sentiment.
“Stopping purchases would send a negative signal to the market,” said Nic Puckrin, co-founder of Coin Bureau, noting that a halt could raise concerns about the company’s balance sheet and weigh on both Strategy’s stock and bitcoin prices.
In a post on X, Saylor said Strategy held 709,715 bitcoin as of January 19. Earlier this month, the company reported an unrealized digital asset loss of $17.44 billion in the fourth quarter due to falling bitcoin prices. Strategy, formerly known as MicroStrategy, began accumulating bitcoin in 2020 and has positioned itself as a long-term holder focused on increasing bitcoin per share rather than short-term earnings.
