Strategy does not affect the Bitcoin price when making purchases, stated the company's CFO Shirish Jajodia. The largest corporate Bitcoin holder buys cryptocurrency "around the clock," but does so in a way that does not impact the market.
"We buy Bitcoin in a way that doesn't change its price," explained Jajodia in the Coin Stories podcast. The treasurer and head of investor relations at Strategy stated that the company carefully plans its purchases to avoid impacting the market.
Strategy began accumulating Bitcoin in 2020. At the time of publication, the company owns 629,376 bitcoins worth about $70.85 billion, according to SaylorTracker data.
"We manage purchases so that they constitute a certain share of market liquidity," Jajodia explained. "That way, we do not affect the price of Bitcoin."
One way to make large trades without impacting market prices is to use over-the-counter (OTC) platforms, where trades occur privately rather than through public exchange order books.
The analysis shows that Bitcoin demonstrated different dynamics during the largest purchases by Strategy — in some cases, the price rose, while in others it fell after the announcement of the deal.
On November 25 of last year, the company reported purchasing about 55,000 bitcoins for $5.4 billion between November 18 and 24 at an average price of $97,862 per coin. A few weeks later, on December 17, Bitcoin reached an all-time high above $106,000 amid a general rise following Donald Trump's victory in the U.S. presidential election, according to CoinMarketCap data.
In another case, on July 29 of this year, Strategy bought 21,021 BTC for about $2.46 billion, but over the next four days, the price fell nearly 4%, dropping to $113,320 by August 2.
Despite this, traders continue to react with excitement when CEO Michael Saylor posts a Bitcoin price chart, hoping for an announcement of a new major purchase.
Jajodia noted that the company adjusts the timing of Bitcoin purchases based on market conditions but actively operates in the market almost constantly. "We are effectively buying Bitcoin around the clock. Almost every day, every hour, every second we are present in the market," he said.
"If the price falls, we can take advantage of the opportunity and act faster," added the executive.
Saylor often reminds his 4.5 million followers that he does not care about the price of Bitcoin — he is simply accumulating cryptocurrency to increase his holdings as much as possible.
On May 22, Saylor wrote on social media X: "I only buy Bitcoin with money I can afford to lose," after Bitcoin fell from its previous peak of $112,000.
At the end of 2024, Saylor promised to continue buying the first cryptocurrency at peak prices regardless of how high the rate rises.