Michael Saylor and the company he co-founded, Strategy (formerly MicroStrategy) , have become synonymous with Bitcoin following the company’s pivot to being a BTC treasury company. Over the years, the company has grown to become the leading public company with the largest BTC holdings running into tens of billions of dollars. Although the entire BTC stack now sits in major profit, speculation abounds as to what happens if the Bitcoin price falls to Strategy’s average buy price.

Analyzing Strategy’s Bitcoin Holdings

Strategy has been steadily purchasing Bitcoin for the past four years after Michael Saylor first introduced the idea back in 2020. These purchases have happened at intervals with varying amounts of BTC purchased at different points in the Bitcoin life cycle so far, causing

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