Michael Saylor Comments on Bitcoin Volatility as Institutional Adoption Grows
Michael Saylor’s Strategy, the world’s largest corporate Bitcoin (BTC) holder, bolstered its balance sheet last week, purchasing 850 BTC for $99.7 million as the US Federal Reserve cut interest rates for the first time this year. According to a US Securities and Exchange Commission (SEC) filing, the acquisition was made at an average price of $117,344 per coin, with Bitcoin briefly surging above $117,000 on Thursday, reaching multi-week highs following the Fed’s 25 basis point rate cut, per CoinGecko data.
This latest purchase brings Strategy’s total Bitcoin holdings to 639,835 BTC, acquired for roughly $47.3 billion at an average price of $73,971 per coin.
Slower Pace in September Purchases
Despite the new acquisition, Strategy’s buying activity has slowed compared with earlier in the year. So far in September, Strategy has added 3,330 BTC, down sharply from 7,714 BTC in August and a dramatic fall from 31,466 BTC in July. Saylor, long known for his commitment to buying Bitcoin even at higher prices, noted the trend toward lower volatility in Bitcoin amid growing institutional adoption. “If volatility decreases, it is going to be boring for a while, and people’s adrenaline rush is going to drop,” he remarked in a recent interview.
Smaller Players Step Up
While Strategy’s pace has moderated, other firms are aggressively expanding their Bitcoin holdings. Japan’s Metaplanet announced a 5,419 BTC purchase on Monday, bringing its total to 25,555 BTC and making it the fifth-largest corporate Bitcoin treasury.
Saylor’s latest buy comes ahead of his participation in a US government-hosted roundtable to advance the BITCOIN Act, initially introduced by Senator Cynthia Lummis in July 2024. The proposed legislation would direct the US government to purchase 200,000 Bitcoin annually for five years, aiming for a total acquisition of 1 million BTC.
