Hold Your Horses!

Hey there, Bitcoin buddies! So, guess what? Our pal Michael Saylor has decided it’s time to take a little breather from buying up those shiny orange coins this week. Yep, no new shiny orange dots on the radar! He spilled the beans to his followers, revealing that his company’s Bitcoin stash is now worth a jaw-dropping $79.03 billion. Not too shabby, right?

The Bitcoin Bonanza Continues

Now, let’s talk turkey! Saylor’s company, Strategy (formerly known as MicroStrategy), just snagged a Bitcoin haul worth $22.1 million. They picked it up at an average price of around $113,048 per Bitcoin. At that rate, the company’s total Bitcoin collection has now hit a staggering 640,031 BTC. Whoa, hold the phone! With a cost basis sitting pretty at $47.35 billion—and an average buying price of $73,983—it seems like they know a thing or two about long-term investing.

Buried Treasure and Market Marvels

At the current Bitcoin price (around $124,880), this treasure chest is valued close to $80 billion! If you can wrap your head around it, that represents about 3% of all Bitcoin just chilling out there in circulation. So, it’s no wonder Saylor sent out a cheeky reminder about why the company holds onto this digital gold: a nice, hefty $9 billion in reason!

A Pause for Ambition

Interestingly enough, the last time Strategy hit the brakes on buying was back in July. They usually take these pauses during earnings reports or when the market’s throwing a bit of a tantrum. But fear not! This pause serves as an internal pep talk on the merits of holding strong—like a true HODLer!

Eyes On The Prize

Even though they’re hitting snooze on the weekly buying spree, Strategy is still totally committed to stacking those coins for the long haul. Some folks in the market think it’s all part of the regular humdrum, while others are keenly observing the upcoming balance sheets and earnings calls, just waiting for a shift in momentum.

The Bigger Picture

On the institutional front, VanEck’s latest report reveals that total crypto treasuries have climbed to around $150 billion. Most of that sweet cash flow is attributed to Ethereum and Solana gaining traction, even with market ups and downs giving everyone a bit of whiplash.

Keeping an Eye on Staking

But wait, there’s more! The report also flagged that revenues from on-chain activity took a bit of a dive—down 16% month over month—thanks to a dip in volatility. Yet, institutional players are still holding tight to their ETH positions. VanEck also raised a flag about the potential impact of large-scale ETH staking on smaller players. The ripple effect of institutional movements might just change the game for the little guys. Stay tuned!