Paul Johnson Michael Saylor’s Strategy has once again reinforced its position as the world’s largest corporate Bitcoin holder. The company’s latest buy comes just as the Federal Reserve delivered its first interest rate cut of the year, sending ripples through global markets. With this move, Strategy isn’t just expanding its crypto reserves — it’s also making a statement about Bitcoin’s long-term role as a macro hedge.
The $100M Purchase at a Multi-Week High
According to a fresh SEC filing, Strategy picked up 850 Bitcoin worth nearly $99.7 million, averaging $117,344 per coin. The purchase coincided with Bitcoin’s sharp jump past $117,000 following the Fed’s 25 basis point cut. This brought the company’s total stash to 639,835 BTC, acquired for a whopping $47.3 billion at an average cost basis of $73,971.
This acquisition is smaller compared to the blockbuster buys earlier this year, but the timing speaks volumes — Saylor is clearly betting that rate cuts and easing monetary policy will drive further capital inflows into Bitcoin.
Why Strategy’s Buying Pace Is Slowing
September’s acquisition tally of 3,330 BTC is a noticeable slowdown from August’s 7,714 BTC and July’s staggering 31,466 BTC. The downtrend shows Strategy adopting a more measured approach, buying in smaller increments rather than making massive lump-sum purchases.
Industry watchers suggest this strategy may be tied to price action. With Bitcoin trading sideways for months, the incentive for ultra-aggressive accumulation has temporarily cooled.
Bitcoin’s “Boring” Phase and Institutional Adoption
Michael Saylor himself recently commented on Bitcoin’s muted volatility, calling it “boring” compared to the adrenaline-fueled days of rapid price swings. However, he sees this as a positive signal — reduced volatility often precedes wider institutional participation.
As big money players like pension funds, sovereign wealth funds, and multinational corporates step in, Bitcoin’s character is shifting from speculative play to a reserve-grade asset.
Smaller Players Making Bigger Moves
Interestingly, while Strategy slows down, others are accelerating. Japanese investment firm Metaplanet just boosted its holdings by 5,419 BTC, bringing its total to 25,555 BTC. That makes it the fifth-largest corporate Bitcoin holder, signaling a diversification of treasuries outside the US.
This dynamic highlights how global corporate adoption is no longer a one-company story — a critical factor in Bitcoin’s evolving role as a strategic asset.
The Bigger Picture: The Bitcoin Act on the Horizon
Saylor’s purchase also comes as he prepares to attend a US government roundtable on the proposed BITCOIN Act. If passed, the bill would commit the US government to buying 200,000 BTC annually for five years. That’s 1 million BTC entering state reserves — a monumental shift in the financial landscape.
The overlap of Strategy’s private sector accumulation with government policy discussions underscores Bitcoin’s accelerating journey toward mainstream legitimacy.
Michael Saylor’s latest move may look modest compared to past buys, but its significance is amplified by timing. With the Fed cutting rates, institutional adoption rising, and the BITCOIN Act gaining traction, Strategy’s $100M purchase fits into a larger story: the normalization of Bitcoin as both a corporate and potentially national reserve asset.
In short, Bitcoin’s boring phase might just be the calm before the storm.
