Michael Saylor has confirmed that Bitcoin treasury company Strategy skipped out on Bitcoin accumulation this week, opting to buy bonds instead.
Strategy Has Paused Bitcoin Accumulation For NowThis buy cost the company a whopping $2.01 billion. As the portfolio tracker shared by Saylor shows, the firm’s holdings have grown to 843,738 BTC following the purchase.
Strategy’s cost basis per token is $75,701, so at the current Bitcoin spot price, the company’s holdings are in a profit of about 2.6%. This is relatively minor, but still an improvement from when the firm was underwater between February and April.
While Strategy has skipped out on an acquisition this Monday, it doesn’t mean that the treasury company is halting things altogether. Saylor hinted at this in the post, saying, “The ₿itVac is charging.” ₿itVac here is likely a shorthand for “Bitcoin Vacuum,” which is what the firm acts like when it comes to the cryptocurrency.
The spot ETFs here refer to investment vehicles that allow investors to gain indirect exposure to Bitcoin. As the above chart shows, the netflow related to such funds based in the United States has been negative during the last two weeks, indicating that a net amount of capital has been leaving the market.
These two weeks of outflows have come after six weeks of inflows. Whether the red netflows are the start of a new trend only remains to be seen.
BTC PriceBitcoin briefly dipped under the $75,000 level during the weekend, but the coin has since surged back to $77,400.
