Michael Saylor, the world’s largest company, added BTC to his balance sheet last week as the US Federal Reserve cut interest rates for the first time this year.
According to a US Securities and Exchange Commission application on Monday, the strategy acquired 850 Bitcoin (BTC) for $99.7 million in the week ending Sunday.
Buys came at an average price of $117,344 per coin as BTC temporarily surged above $117,000 on Thursday following the Fed’s 25 basis points interest rate cuts.
The acquisition brought the strategy’s total Bitcoin holdings of 639,835 BTC, which was purchased at around $47.3 billion with an average price of $73,971 per coin.
When Bitcoin becomes “boring” it continues to slow down purchases
The latest Bitcoin purchases in the strategy continued the trend of modest acquisitions, highlighting the slowdown compared to the large purchases seen earlier this year.
So far, in September, the strategy has won 3,330 Bitcoins. This is a sharp decline from the 7,714 BTC purchased in August and a 75% decrease from July 31,466 BTC.
Known for his commitment to buying more Bitcoin at a higher price, Saylor has made some comments about the limited volatility of Bitcoin observed in the past few months amid an increase in institutional adoptions.
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“The challenge is that if mega-institutions come in, if volatility decreases, people’s adrenaline rush will be boring because it will be boring for a while,” he said in an interview last week.
Larger purchases by small holders
Over the past two months, the Bitcoin purchase of strategy has been slower, but other companies such as Japan’s Metaplanet have been actively adding to BTC holdings.
Metaplanet announced its purchase of 5,419 BTC on Monday, bringing Bitcoin Holdings to 25,555 coins, making it the fifth largest corporate Bitcoin Treasury.
The latest Bitcoin purchase of the strategy came in a sailor preparing to attend a US government-hosted roundtable on Tuesday to advance the US Bitcoin Reserve Bill known as the Bitcoin Act.
The Bitcoin Act, originally introduced in July 2024 by US Senator Cynthia Lumis, proposes that the US government purchase 200,000 Bitcoin annually over five years with a total acquisition of 1 million Bitcoin.
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