Furthermore,
Strategy co-founder hints another bitcoin:
Strategy co-founder Michael Saylor signaled that Strategy would resume Bitcoin (BTC) buying on Monday. However, after the company took a week-long hiatus from accumulating the digital asset.
“Some weeks, you don’t just HODL,” the executive wrote on Sunday. In addition, The company skipped buying BTC last week but announced a $4.2 billion capital raise. However, Before the break, Strategy racked up 12 consecutive weeks of BTC accumulation.
Strategy’s most recent BTC buy occurred on June 30. Moreover, when the company bought 4,980 BTC for $532 million, bringing its total holdings to 597,325 BTC, valued at over $70.9 billion.
Shares of the company are trading hands at about $434. are up over 16% this month, but still trail the all-time high of $543 per share hit in strategy co-founder hints another bitcoin November 2024.
Bitcoin treasury companies are now major players in the Bitcoin market. scooping up BTC at a faster rate than it is mined. This demand could cause a supply shock. drive prices higher, though some analysts warn that debt-fueled institutional BTC buying is unsustainable and could trigger a systemic market downturn.
Related: Strategy set to post $13B Bitcoin gains. but revenue stalls
Bitcoin treasury companies outstripping newly-mined supply – Strategy co-founder hints another bitcoin
Bitcoin treasury companies bought 159,107 BTC in Q2, led by Strategy, which is the largest corporate holder of BTC, according to BitcoinTreasuries.
There are currently 3.5 million BTC held in institutional treasuries. which include public companies, private enterprises, crypto firms, government organizations, pension funds, and asset managers, data from the site shows.
In April. Adam Livingston, the author of “The Great Harvest: AI, Labor, and strategy co-founder hints another bitcoin the Bitcoin Lifeline,” said that Strategy is “synthetically halving” Bitcoin through the rapid accumulation of the digital currency.
Miners collectively produce around 450 BTC per day. or about 13,500 BTC per month, while Strategy accumulated 379,800 BTC in six months, according to Livingston.
“Strategy has accumulated 379,800 in the past 182 days. That’s 2. 087 BTC per day — far outpacing the miners,” Livingston wrote, while forecasting the Bitcoin treasury company to become the “financial superpower” of the future.
Magazine: Pakistan will deploy Bitcoin reserve in DeFi for yield, says Bilal Bin Saqib
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