Michael Saylor hints at a fresh Bitcoin purchase despite NAV collapse

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Michael Saylor has erstwhile again hinted that his company, Strategy (formerly MicroStrategy), whitethorn beryllium preparing to bargain much Bitcoin, adjacent arsenic firm Bitcoin treasuries look mounting unit from a crisp driblet successful nett plus values (NAV).

In a Sunday post connected X, Saylor shared a illustration from the Saylor Bitcoin Tracker, showing Strategy’s cumulative Bitcoin (BTC) purchases. “The astir important orangish dot is ever the next,” helium besides wrote.

The chart, tracking 82 abstracted acquisition events, lists Strategy’s holdings astatine 640,250 BTC, worthy astir $69 cardinal astatine existent prices, up 45.6% from its aggregate outgo ground of $74,000 per coin.

The station has fueled speculation among traders that different Bitcoin acquisition could beryllium imminent. In the past, akin cryptic posts person preceded buying announcements from Strategy.

Strategy leads planetary Bitcoin treasuries

According to information from BitcoinTreasuries.Net, Strategy remains the world’s ascendant Bitcoin-holding corp with 640,250 BTC. The firm’s holdings correspond astir 2.5% of Bitcoin’s full supply, surpassing the combined reserves of apical 15 nationalist miners and firm treasuries.

In 2nd spot is MARA Holdings (Marathon Digital) with 53,250 BTC worthy astir $5.7 billion, followed by XXI (CEP) successful third with 43,514 BTC valued astatine $4.7 billion. Japan’s Metaplanet (MTPLF) ranks 4th with 30,823 BTC, portion the Bitcoin Standard Treasury Company (CEPO) rounds retired the apical 5 astatine 30,021 BTC.

The information besides shows that respective US-listed firms, including Riot Platforms, CleanSpark, Coinbase and Tesla, support smaller but inactive important Bitcoin positions. The apical 15 nationalist companies collectively clasp implicit 900,000 BTC.

Bitcoin treasury NAVs collapse

The station follows a turbulent twelvemonth for firm Bitcoin treasuries. In a caller report, 10x Research revealed that Bitcoin treasury firms person seen their NAVs collapse, wiping retired billions successful insubstantial wealth.

Analysts said the roar successful Bitcoin treasury companies, which issued shares astatine multiples of their existent BTC value, has “fully round-tripped,” leaving retail investors heavy successful losses portion firms accumulated existent Bitcoin.

On Tuesday, Metaplanet saw its endeavor worth autumn beneath the worth of its Bitcoin holdings for the archetypal time. The company’s market-to-Bitcoin NAV ratio dropped to 0.99, signaling that investors present worth the steadfast astatine little than the worthy of its underlying BTC reserves.

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