Strategy company, which has the world’s largest publicly traded Bitcoin portfolio, announced that it purchased 4,871 Bitcoins for $330 million. This transaction was recorded as one of the company’s largest acquisitions in 2026. However, it is noteworthy that such large purchases did not have the expected effect on the Bitcoin price.
Market Dynamics and the Role of the Strategy Company
USA-based Strategy operates in the field of financial technologies and corporate software. The company has frequently been on the agenda among crypto industry followers with its investments in Bitcoin in recent years. Despite this, after the announcement, the price of Bitcoin decreased from time to time instead of increasing, which started to attract the attention of some investors.
The reason for this is that the company’s total demand is still limited compared to the general flow in the market. According to the data, Strategy’s Bitcoin demand accounts for approximately 7 percent of total gross inflows and 9 percent of net inflows. While the gross flow only takes into account new purchases entering the market, in the net flow sales are also taken into account and the overall pressure is seen more clearly.
The impact of the company’s past acquisitions was greater than it is today. Especially with the demand and shares reaching their peak in November 2024, exceeding 15 billion dollars, Bitcoin also reached its all-time highs. Today, the company’s monthly demand hovers around 2.8 billion dollars, while the activity in the general market remains much higher than this figure.
Other Actors and Huge Volatility in the Market
In the Bitcoin ecosystem, long-term investors, that is, those who hold coins that have not changed hands for at least 155 days, provide a supply change of approximately $ 28.5 billion. The total of coins that have moved in the last 30 days and have not been touched for more than a year represents a change of roughly 9 billion dollars.
Additionally, spot Bitcoin ETFs traded in the US appear to have recorded inflows of approximately $1 billion in the last 30 days. In the same period, mining activities also create an additional supply of around 880 million dollars in the market.
However, recently more capital has left the system than entered it. Since February, Bitcoin’s realized market value has been reduced by $29 billion. In addition, there was a decrease of over $4 billion in open positions in BlackRock’s IBIT product. All these figures are much larger than the demand that Strategy conveys to the market.
In summary, although the positions taken by the company seem large, their impact remains limited in the face of general sales and capital outflow in the market.
