Strategy, currently the largest public corporate holder of bitcoin, is careful to structure its significant bitcoin acquisitions without affecting the broader market price, according to the company’s corporate treasurer and head of investor relations, Shirish Jajodia.
Approach to buying bitcoin
Jajodia explained in a recent interview that the firm buys bitcoin in a way that takes market liquidity into account. He stated:
“The way we buy Bitcoin is we do not move the price of the Bitcoin.”
Strategy has accumulated 629,376 BTC since 2020, a holding worth over $70 billion.
The company manages its buys to match a proportion of available market liquidity, often utilizing Over-the-Counter (OTC) desks to facilitate large trades without exposing them to public exchanges.
Market reaction to strategy’s purchases
Despite speculation among traders, Cointelegraph found that bitcoin price movement has been mixed following Strategy’s major acquisitions.
For example, after purchasing 55,000 BTC in late November, bitcoin surged to new all-time highs in December.
However, another large buy of 21,021 BTC in July was followed by a 4% price drop within days.
Buying bitcoin around the clock
Jajodia noted that the company is active in the market nearly continuously, adjusting its buying pace depending on conditions. He said:
“We’re actually buying Bitcoin around the clock. Almost every day, every hour, every second we are in the market.”
This approach aligns with Michael Saylor’s public statements about accumulating bitcoin regardless of the price, aiming to continually increase the firm’s total reserves.
