Michael Saylor hints at Bitcoin purchase as whales stack aggressively
Whales and large institutions continue their aggressive Bitcoin accumulation, with Strategy hinting at another Bitcoin investment that may be announced on Monday.
Strategy co-founder Michael Saylor hinted at another imminent Bitcoin (BTC) investment on April 27, a week after the firm acquired $555 million worth of Bitcoin at an average price of $84,785 per coin.
“Stay Humble. Stack Sats,” Saylor wrote, spurring investor speculation of the size of the firm’s next Bitcoin investment.
“1.4-1.6b range imo,” wrote popular blockchain analyst RunnerXBT in anticipation of Saylor’s announcement, which would make it three times as large as Strategy’s previous investment.
Related: Bitcoin treasury firms driving $200T hyperbitcoinization — Adam Back
Strategy is the world’s largest corporate Bitcoin holder with over 538,200 Bitcoin worth over $50.5 billion, Bitbo data shows.
The firm’s investment philosophy inspired other companies to adopt Bitcoin, including Japanese investment firm Metaplanet, which surpassed 5,000 BTC holdings on April 24, in an effort to lead Bitcoin adoption in Asia.
Related: Trump fought the bond market, the bond market won: Saifedean Ammous
ETFs log $3 billion, and whales aggressively accumulate Bitcoin
Whales, or large Bitcoin investors, are also accumulating Bitcoin under the $100,000 psychological mark.
Whale wallets holding at least $1 million worth of Bitcoin restarted their accumulation at the beginning of April, increasing from 124,000 wallets on April 7 to over 137,600 wallets on April 26, Glassnode data shows.
The aggressive whale accumulation helped Bitcoin’s recovery to above $94,000, Nexo dispatch analyst Iliya Kalchev told Cointelegraph, adding:
“Wallets holding over 10,000 BTC have been aggressively accumulating, with a trend score of 0.90, while smaller investors are also pivoting toward long-term holding.”
“Trump confirmed discussions with China are ongoing, with Beijing offering exemptions on select US imports, suggesting a softening tone. Still, markets are awaiting tangible action before re-rating global risk,” he added.
Bitcoin exchange-traded fund (ETF) inflows have also contributed to Bitcoin’s near 12% weekly recovery.
US spot Bitcoin ETFs recorded over $3 billion worth of cumulative net inflows during the past week, marking their second-highest week of investments since launching, Farside Investors data shows.
Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8