Strategy Co. co-founder Michael Saylor hints at the firm’s 11th week in a row of Bitcoin purchases, a streak that kicked off on April 14.
“In 21 years, you’ll regret not buying more,” Saylor tweeted to his 4.4 million followers. Over the past year, the Strategy co-founder has gained approximately 1 million followers on the social media platform.
Strategy’s latest Bitcoin acquisition took place on June 23 when the company bought 245 BTC for $26 million, increasing its total holdings to 592,345 BTC, worth over $63.6 billion.
With its Bitcoin treasury, Strategy holds the position of the largest known corporate Bitcoin holder globally. In fact, Saylor’s firm owns over twice as much Bitcoin as the top 20 public Bitcoin treasury firms combined, as per the data from BitcoinTreasuries.
Analysts are still discussing if Strategy’s quick Bitcoin accumulation could cause a supply shock, pushing BTC prices up. However, other market players are questioning the sustainability of the corporate Bitcoin treasury model used by Strategy and its imitators that fund their BTC purchases with debt and equity – a potential issue that could induce the next Bitcoin bear market.
Strategy is unlikely to collapse under this pressure, but newer treasury companies might. A recent report from venture capital firm Breed suggests that only a few Bitcoin treasury companies will survive once Bitcoin prices fall.
“With inevitable failures, the strongest players are expected to acquire struggling companies and consolidate the industry,” the authors of the Breed report wrote.
“Newer treasury companies face this risk more severely, as they will have to raise capital under stricter terms and at higher leverage ratios than Strategy,” according to Breed.
The report highlighted that Strategy has a considerably higher chance of surviving the next major market downturn due to its size, BTC holdings, and its history of withstanding a previous bear market.
Strategy has shown discipline by continuing to accumulate Bitcoin even during the bear market, a characteristic that is likely to be seen in other successful BTC treasury companies, added the authors.
Jeff Walton, a Strategy investor and market analyst, recently forecasted a 91% probability of the company joining the S&P 500, a stock index of the 500 largest companies listed on the US stock market, in Q2 2025.
