- Strategy may continue its fourth consecutive week of Bitcoin purchases after CEO Saylor hinted at more acquisitions with his “more orange” comment, referring to their portfolio tracker.
- Strategy reported impressive Q1 results with a US$21 billion stock raise that helped add over 301,000 BTC and drove a 50% increase in share price.
- The company now holds 553,555 Bitcoin (2.6% of total supply), dwarfing other public companies but still trailing BlackRock’s IBIT ETF which holds 607,685 BTC (2.89%).
- US strategic Bitcoin reserve initiatives meanwhile show mixed progress with Arizona’s governor vetoing a state reserve bill while Trump’s national stockpile plan advances with Treasury expected to release next steps.
It’s likely that Michael Saylor’s Strategy (formerly MicroStrategy) may buy Bitcoin (BTC) for the fourth week in a row. After weekly purchases on April 14, 21 and 28, Saylor wrote over the weekend: “Too much blue, not enough orange.”
In the portfolio tracker shown below, orange means Strategy’s BTC acquisitions and blue the average buying price.
Saylor’s firm released its 2025 Q.1 report last week, in which Strategy (MSTR) CEO Phong Le announced a record US$21 billion (AU$32.4 billion) stock raise, helping the company add over 301,000 BTC and drive a 50% jump in share price.
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Strategy on Track for Bullish 2025
CFO Andrew Kang reported a 13.7% BTC yield and US$5.8 billion (AU$8.9 billion) in gains, already achieving over half of the firm’s 2025 target.
The company bought 61,497 Bitcoin already in 2025, and now holds a total of 553,555, the most any public company holds. The 2.6% of total supply held by MSTR dwarfs the 0.2% held by the second largest public firm’s 47,531 BTC – which is held by Marathon Digital.
However, the US spot Bitcoin exchange-traded funds (ETFs) still hold the most BTC. They currently hold a total of 1.16 million BTC or 5.52% of all 21 million.
BlackRock’s IBIT alone holds 607,685 of the coin, or 2.89% of all supply. IBIT has not seen any net outflows since April 9. In the two trading days so far in May, the fund added 1 billion (AU$1.5 billion).
Mixed Progress for US Bitcoin Reserve Initiatives
Meanwhile, the US push for strategic Bitcoin reserves is showing signs of slowing down. In Arizona, Governor Katie Hobbs recently vetoed a bill that would have made it the first US state to establish such a reserve.
Donald Trump’s plan to build a national stockpile of BTC on the other hand appears to be still on track, with the US Treasury expected to release a report on the next steps. It remains to be seen if such a reserve can push the price of Bitcoin higher.
At the time of writing, BTC trades at US$94,082 (AU$145,558), down around 2% over the past 24 hours.
Read also: Vitalik Buterin Calls for Simpler Ethereum, Inspired by Bitcoin’s Design
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