Michael Saylor’s aggressive Bitcoin accumulation has propelled Strategy’s crypto holdings to a staggering $61 billion—solidifying the company’s place as a dominant institutional force in the Bitcoin space. However, recent market movements are testing the resilience of this bold strategy.
Aggressive Acquisitions at High Prices
On June 2, 2025, Saylor’s firm added another 8,705 BTC to its already-massive portfolio, paying an average price of $106,495 per coin. This latest purchase underscores the company’s willingness to buy at elevated levels, with recent acquisition prices ranging from $82,000 to over $106,000.
While this most recent position is currently showing a modest unrealized loss of around $764,000, Strategy’s long-term Bitcoin play remains deeply in the black. The firm sits on an estimated $20 billion in paper profits—approximately 50% to 68% above the average buy-in prices across its holdings. These gains highlight Saylor’s high-conviction thesis that Bitcoin is the ultimate digital reserve asset.
Bitcoin Holds Key Support in Cautious Market
Despite recent gains pushing Bitcoin above $110,000, the cryptocurrency has cooled off, now trading between $105,000 and $106,000. Analysts are closely watching the 26-day exponential moving average (EMA), a critical support level. A breakdown here could open the door to a deeper pullback toward the 50 EMA, currently near $97,000.
The market appears to be entering a phase of consolidation, and tension is building. A successful hold of the 26 EMA might spark another rally past recent highs. However, if support fails, the downside risk grows considerably—especially given the volume of leveraged positions in play.
Strategy’s Holdings Draw Scrutiny
Saylor’s relentless accumulation has become a pillar of market stability, but it also introduces systemic risk. Observers warn that in the event of a major liquidity crisis, Strategy could be forced to offload a portion of its holdings. Such a move could trigger a cascade similar to the catastrophic collapse of Terra’s LUNA ecosystem.
So far, Saylor’s unwavering commitment has provided confidence to the market. But with billions in Bitcoin and growing exposure, any misstep could send ripples across the crypto landscape.
As Bitcoin hovers near key technical thresholds, traders and institutions alike are bracing for the next big move. Whether it’s another push higher or a sharp retracement, Strategy’s massive position means the stakes have never been higher.
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