Last week, Michael Saylor’s world’s largest Bitcoin (BTC) holder company called Strategy continued to add to its Bitcoin stash, buying 850 Bitcoin worth $100 million. This was a relatively small purchase, but it happened as the US Federal Reserve cut interest rates for the first time this year. After this purchase, Strategy’s total Bitcoin holdings rose to 639,835 BTC.

Continuous Buying Strategy

The latest Strategy Bitcoin purchase continued their trend of small acquisitions, showing that they are now going slower compared to the large buys that happened earlier this year. Though, their pattern of accumulating is still incremental.

Since their average cost is around $74,000 per coin, and the purchase price is significantly higher, Strategy is paying more than what many of their older coins cost. That raises their overall cost basis, which means more downside risk if BTC price drops. But if the price goes up, they stand to benefit significantly. This risk buying may bring Strategy into a slow process of gaining benefit for a longer period of time. So far, since September, Strategy has acquired 3,330 BTC, a sharp decline from 7,714 BTC in August, which is itself down 75% compared to July’s 31,466 BTC.

Such moves by digital treasury institutions still show belief in Bitcoin as an asset (store of value, inflation hedge, etc.). When companies publicly disclose these acquisitions, it may influence market sentiment. Saylor, who is committed to buying more Bitcoins at higher prices, says that volatility has remained low in the past months amid growing institutional adoption.

Small Holders Buying Big.

Since Strategy’s purchasing trend has slowed over the past two months, other competitors are entering the market by aggressively buying BTC for their holdings. Most notably, Japan’s Metaplanet has been involved in it.

Metaplanet’s recent announcement showed that they purchased 5,419 BTC on Monday, making them the fifth-largest corporate Bitcoin treasury while holding 25,555 coins.

Saylor To Attend The BITCOIN Act Conference

The BITCOIN (Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide) Act proposed by Senator Cynthia Lummis is scheduled to happen on Tuesday, where Saylor will attend the government’s roundtable meeting.

The goal of the act is to create a long-term strategic reserve asset for the government, similar to gold. It proposes a purchase program of up to 1 million BTC over five years, funded in a budget-neutral way, such as through seized assets rather than taxpayer money. The acquired Bitcoin in that time span will be held for a long time, around 20 years, to promote stability and avoid speculation.

The reason for Saylor to attend this is because this act aligns with his buy-and-hold philosophy. With government support, Bitcoin’s demand would increase, potentially tightening the supply and boosting prices, giving Strategy a generous favor.

Strategy, A Future Crypto Titan

Strategy, despite slowing down in buying, has been speculated by its founder to thrive more in the future due to Bitcoin’s low volatility behavior. Their unique buy-and-hold strategy in the crypto world could bring Strategy into a position where their share values can go upward for a longer period of time.

While the BITCOIN Act meeting is yet to come, Saylor is hopeful that this could bring Strategy’s buy-and-hold philosophy into favor.