Michael Saylor’s Strategy adds $531 mln BTC – Why Bitcoin barely moved
2025-07-02 07:27:25
Main Idea
Michael Saylor’s Strategy purchased an additional $531.9 million in Bitcoin, but the price barely moved due to high profit-taking by long-term holders and whales.
Key Points
1. Michael Saylor’s Strategy acquired 4,980 BTC, bringing its total holdings to 597,325 BTC, which is 2.85% of the total Bitcoin supply.
2. Despite the large purchase, Bitcoin's price barely reacted, dropping over 2% amid high profit-taking activity.
3. Long-term holders (LTHs) and whales were cashing out, with LTHs selling $800 million daily in early June and whales offloading $440 million on average.
4. The Coinbase Premium Index, indicating U.S. investor demand, dipped slightly, suggesting weaker buying pressure.
5. Sell pressure from whales and LTHs offset the demand from Strategy and other institutional buyers like ETFs.
Description
Is Bitcoin losing its sensitivity to big buys like Strategy?
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