TLDR
- Michael Saylor signals another Bitcoin purchase is coming, marking week eight of consecutive Strategy purchases
- Strategy now holds 580,250 BTC worth over $20 billion in unrealized gains, making it the largest known Bitcoin holder
- Debate grows over Strategy’s lack of proof-of-reserve audits, with critics questioning if the company actually holds the Bitcoin it claims
- Saylor warns buying Bitcoin will become “exponentially harder” as institutional demand grows and supply remains limited
- Trump Media plans $500 million Bitcoin allocation while new company Twenty-One aims to hold 42,000 BTC
Strategy co-founder Michael Saylor has signaled another Bitcoin purchase is coming, extending the company’s aggressive accumulation strategy into its eighth consecutive week. The announcement came through Saylor’s social media post featuring a Bitcoin price chart with the caption “Orange is my preferred color” to his 4.4 million followers.
Orange is my Preferred Color pic.twitter.com/rc9JIcJOAT
— Michael Saylor (@saylor) June 1, 2025
The company’s most recent Bitcoin acquisition occurred on May 26, when it purchased 4,020 BTC valued at approximately $427 million. This brought Strategy’s total Bitcoin holdings to 580,250 BTC, representing unrealized capital gains exceeding $20 billion with the investment up over 50% since inception.
According to Bitcoin Treasuries data, Strategy now holds more Bitcoin than the US and Chinese governments combined. This positions the company as the single largest known Bitcoin holder globally, making it synonymous with Bitcoin among traders who view it as a proxy investment for the digital asset.
The company’s rapid Bitcoin accumulation began in September 2020 and has continued through various market cycles. Strategy’s approach has attracted attention from institutional investors and other corporations considering similar treasury strategies.
Growing Corporate Interest
Trump Media recently confirmed plans to allocate $500 million toward Bitcoin purchases. Meanwhile, Tether, SoftBank, and Strike’s Jack Mallers have jointly launched a new public company called Twenty-One, which aims to accumulate 42,000 BTC.
Once completed, Twenty-One would rank among the top three companies worldwide for Bitcoin holdings. GameStop previously invested in Bitcoin in 2018, but Strategy remains the leader in both investment amount and returns generated.
Speaking at the Bitcoin 2025 event, Saylor described Bitcoin as “digital capital” and warned that acquiring the cryptocurrency will become exponentially more difficult over time. He cited rising global demand that will outpace available supply as the primary driver of this trend.
Companies in the UK, South Korea, and Hong Kong are reportedly adopting similar Bitcoin treasury strategies. Wall Street executives have shown increased interest following Strategy’s success, with institutional demand continuing to grow.
Proof of Reserves Controversy
Despite Strategy’s reported holdings, an increasing number of market participants have raised concerns about the company’s lack of regular proof-of-reserve audits. Critics question whether Strategy actually holds the Bitcoin it claims in its corporate treasury.
One social media user directly challenged Saylor’s latest acquisition announcement, asking for proof of reserves and suggesting the company might hold “paper Bitcoin” instead of actual cryptocurrency. These concerns reflect broader skepticism about corporate Bitcoin holdings without transparent verification.
Saylor has defended the company’s position, arguing that proof-of-reserve audits create security risks for large enterprises. He claims such audits expose institutional wallets to tracking and unwanted attention from potential threat actors.
The transparency inherent in public blockchains is often cited by business leaders as an impediment to institutional adoption. This creates a tension between the desire for verification and security concerns about revealing wallet addresses.
Market Impact and Future Plans
CryptoQuant analyst Ki Young Ju suggests Strategy’s rapid Bitcoin accumulation is already altering market dynamics.
Executives from crypto-native Sygnum Bank have indicated that institutional buying could trigger a supply shock, potentially driving Bitcoin prices higher.
Strategy plans to continue scaling its Bitcoin purchases through improved operational efficiency. Saylor maintains confidence in Bitcoin’s role as a long-term corporate investment despite temporary price fluctuations.
President Trump recently signed an executive order creating a Strategic Bitcoin Reserve, starting with the 200,000 BTC currently held by the US government. Vice President JD Vance believes Bitcoin can serve as protection against inflation and excessive government control.
