After three weeks of silence, Michael Saylor’s Strategy just scooped up another chunk of Bitcoin [BTC]. Hence, it’s worth asking the question: Are all the catalysts finally coming together?
Strategy is buying Bitcoin again…
… and it wasn’t a surprise. In fact, less than a day ago, Saylor posted a chart of Strategy’s Bitcoin buying history on X and captioned it “a little more orange.”
True to his word, Strategy broke its buying pause: 950 BTC for roughly $75.7 million. According to an SEC filing dated 21st September, they now hold 846K Bitcoin in total.
The entirety of this stash was bought over time for a combined total of $63.8 billion. That’s not all either as between 14th and 20th September, Strategy didn’t offload a single share through its at-the-market stock program.
Big money is also moving from one hand to another. Fidelity’s FBTC also overtook BlackRock’s IBIT in ETF flows. This hinted at a commendably big change from two weeks ago, when IBIT was leading by nearly 6x!
On 18th September, FBTC pulled in $306 million, almost 3x what IBIT got. That same day, Bitcoin climbed towards $81K on the price charts.
What else is going on?
Michael Saylor recently weighed in on the CLARITY Act’s rejection. And, he was in surprisingly great spirits about it.
He advised that stakeholders should take the next couple of years to build, grow adoption, and let competition do the heavy lifting. All this, while regulators create laws under the authority they already have.
Especially since the company went from $10 billion in unrealized losses (just weeks ago) to $8 billion in unrealized gains now!
Final Summary
- Strategy bought 950 BTC, with its total holdings now 846,000 BTC.
- Fidelity’s FBTC overtook BlackRock’s IBIT in ETF flows as Bitcoin went up to $81K.
