Strategy's Michael Saylor signals impending Bitcoin purchase

Strategy co-founder Michael Saylor posted the Bitcoin (BTC) illustration signaling an impending BTC acquisition by the company, marking week 8 of consecutive purchases by the institution during this latest buying stint.

"Orange is my preferred color," Saylor wrote to his 4.4 cardinal followers connected X — a fig that has been steadily increasing implicit the past 2 years arsenic the Strategy co-founder commands accrued media attraction owed to the company's firm treasury plan.

The company's most caller Bitcoin acquisition connected May 26 of 4,020 BTC, valued astatine astir $427 cardinal astatine the clip of purchase, brought Strategy's full holdings to 580,250 BTC.

Strategy’s Bitcoin purchases since September 2020. Source: SaylorTracker

According to data from Bitcoin Treasuries, this makes Strategy the azygous largest known Bitcoin holder, with the company's BTC holdings dwarfing the magnitude of BTC held by the US and Chinese governments combined.

Strategy has go synonymous with Bitcoin, with galore traders seeing it arsenic a proxy stake for the integer asset.

The company's accelerated accumulation of BTC is already altering marketplace dynamics, according to CrytoQuant expert Ki Young Ju. Institutional buying could besides trigger a proviso shock, sending BTC prices higher, executives from crypto-native Sygnum Bank told Cointelegraph.

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Debate erupts implicit Strategy's Bitcoin impervious of reserves

Strategy has been characterized arsenic an emerging fiscal superpower by authors similar Adam Livingston. However, not each investors are convinced by Strategy's reported Bitcoin accumulation numbers.

Strategy’s latest streak of reported Bitcoin acquisitions. Source: SaylorTracker

A increasing fig of marketplace participants person voiced criticisms and suspicions that Strategy does not person the Bitcoin it purports to person successful its firm treasury, citing a deficiency of regular impervious of reserve audits.

One idiosyncratic responded to Saylor's impending acquisition station by asking: "No impervious of reserves is your preferred 'trust maine bro.' When mempool? Or [are you] excessively frightened to amusement that you bash not person Bitcoin, but alternatively insubstantial Bitcoin?"

The Strategy co-founder argues that proof of reserve audits are risky for ample enterprises and institutions due to the fact that they unfastened up the institutions' wallets to tracking and unwanted attraction from imaginable menace actors.

This precocious grade of transparency inherent successful nationalist blockchains is often cited by manufacture professionals and concern leaders arsenic 1 of the main impediments to institutions putting their concern operations onchain.

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