Michael Saylor's Strategy company is the largest corporate holder of BTC. According to executives responsible for managing the company's vast BTC treasury, the company does not attempt to influence the price of Bitcoin (BTC) when executing purchases.
"We do not buy Bitcoin in a way that drives the price of Bitcoin," said Shirish Jajodia, the CFO and head of investor relations at Strategy, on Wednesday during Natalie Brunell's "Coin Stories" podcast.
Market participants often speculate that Strategy's large-scale Bitcoin acquisitions help drive up the price of Bitcoin, but Jajodia stated that the company carefully structures its purchases to avoid impacting the market.
Strategy began accumulating Bitcoin in 2020, and according to SaylorTracker data, as of the time of writing, it holds 629,376 Bitcoins, valued at approximately $70.85 billion.
He explained, "We manage our purchases in a way that is proportional to some market liquidity. So we do not drive up the price of Bitcoin."
One way the company manages large transactions without affecting market prices is through over-the-counter (OTC) platforms, which allow trades to occur privately rather than on public exchange order books.
Jajodia may be correct, as Cointelegraph found that Bitcoin's performance was mixed before and after Strategy's most significant purchases; in some cases, Bitcoin rose after Strategy's purchases, while in others, it fell.
On November 25, the company announced it acquired approximately 55,000 Bitcoins for $5.4 billion between November 18 and 24, at an average price of $97,862 per coin.
Just a few weeks later, on December 17, according to CoinMarketCap data, Bitcoin reached a historic high of over $106,000 amid a broader rally following Donald Trump's presidential election victory.
In another instance, on July 29, Strategy purchased 21,021 BTC for about $2.46 billion, but the price fell nearly 4% within four days, sliding to $113,320 by August 2.
Nevertheless, when Saylor posts Bitcoin price charts, traders still get excited, hoping the company will announce another large Bitcoin purchase.
Jajodia stated that the company adjusts the timing of Bitcoin purchases based on market conditions but is active in the market most of the time. He said, "We are actually buying Bitcoin around the clock. Almost every day, every hour, every second we are in the market."
He added, "If the price drops, we can seize the opportunity to accelerate our actions."
Saylor often hints to his 4.5 million followers that he does not care about the price of Bitcoin; he is just accumulating to make his holdings as large as possible.
On May 22, after Bitcoin fell from a previous high of $112,000, Saylor wrote in an X post, "I only buy Bitcoin with money I can afford to lose."
By the end of 2024, Saylor has committed to continue purchasing BTC at peak prices, regardless of how high the price goes.
Related: Bitcoin analysts point out "market manipulation" causing BTC price to drop to a new low on the 17th.
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