Michael Saylor’s Strategy kicks off May with a substantial Bitcoin purchase of 1,895 BTC, valued at $180.3 million. The company’s total holdings now amount to 555,450 BTC. Analysts suggest that upcoming purchases might be larger, reflecting established buying patterns. Furthermore, Bitcoin shows signs of accumulation, while its price recently rebounded to around $94,800 after a temporary dip.
As May kicks off, Michael Saylor’s Strategy makes headlines with a new Bitcoin acquisition—1,895 BTC to be precise. This was announced in a post on X, revealing that the company purchased these coins at an average price of $95,167 from April 28 to May 4, making a hefty total of about $180.3 million. Now, Strategy’s overall Bitcoin stash stands at 555,450 BTC, a figure that has cost the firm approximately $38.08 billion to accumulate.
In recent months, Strategy has been quite active in the Bitcoin arena. Maartunn, an analyst from the CryptoQuant community, has pointed out an intriguing buying pattern. Traditionally, the first Bitcoin purchase of the month tends to be the least significant, gradually building in size as the month progresses. With the latest 1,895 BTC purchase being the first of May, there’s speculation that subsequent acquisitions could be larger if this pattern holds true.
Currently, Strategy’s Bitcoin holdings have a cost basis of around $68,550. Given the latest market valuation, this investment shows a healthy profit of approximately 38%. Clearly, Saylor’s strategies seem to be paying off thus far. Meanwhile, Bitcoin remains in the spotlight from different analytical fronts, including a noteworthy examination by CryptoQuant’s Axel Adler Jr.
Adler Jr has evaluated Bitcoin through the lens of his Composite Volatility Index, which helps show market macro phases based on address activity. According to him, a recent dip in the 30-day change of the index below 0% signals an accumulation phase among investors, while a rise above 15% might indicate panic selling or distribution.
Currently, the 30-day change in this index is at -3.5%, suggesting that investor sentiment leans towards accumulation, which is interesting in the context of ongoing market dynamics. On the price front, earlier in the day, Bitcoin faced a retreat to just under $94,000, but has since bounced back to hover around $94,800, indicating some resilience.
In summary, as we move through May, attention will be on whether Strategy continues to ramp up its Bitcoin buying. The recent acquisitions combined with favourable market conditions could leave investors wondering what’s next for Saylor and his team.
Coin enthusiasts are surely going to keep a close tab on the unfolding events this month.
