Key Takeaways:
- Strategy now holds 597,325 BTC, owning 2.85% of the total Bitcoin supply after a massive $531.9 million purchase.
- Bitcoin dropped over 2% despite the bullish corporate buy, as whale and long-term holder sell-offs offset demand.
- U.S. investor demand remains weak, with the Coinbase Premium Index showing no signs of aggressive accumulation.
Michael Saylor announced that Strategy—formerly known as MicroStrategy—purchased an additional 4,980 BTC worth $531.9 million, bringing its total Bitcoin holdings to a staggering 597,325 BTC. The move solidifies Strategy’s position as the leading corporate holder of Bitcoin, now owning 2.85% of the total BTC supply.
Strategy has acquired 4,980 BTC for ~$531.9 million at ~$106,801 per bitcoin and has achieved BTC Yield of 19.7% YTD 2025. As of 6/29/2025, we hodl 597,325 $BTC acquired for ~$42.40 billion at ~$70,982 per bitcoin. $MSTR $STRK $STRF $STRD https://t.co/xvWnSkfukS
— Michael Saylor (@saylor) June 30, 2025
Data from CryptoQuant further revealed that 170,038 BTC—or 35% of Strategy’s total holdings—were acquired in just the first half of 2025, highlighting an aggressive accumulation strategy amid a volatile market.
BTC Price Dips Despite Major Corporate Buy
Despite the bullish announcement, Bitcoin’s price reacted modestly. BTC briefly climbed to $108,000 on Sunday but dropped over 2% heading into July. The tepid reaction signals broader market headwinds that seem to outweigh even high-profile corporate buys.
Recent geopolitical tensions and rising ETF inflows—now totaling over $11 billion—had previously supported BTC, but those catalysts failed to push prices higher. The muted response to Strategy’s purchase suggests profit-taking and supply-side pressures are dominating investor behavior.
Whale and Long-Term Holder Selling Intensifies
According to Glassnode, the sell pressure stems largely from long-term holders (LTH) and whales. LTHs with more than one year of holding history sold an estimated $800 million per day in early June. At the same time, whales offloaded an average of $440 million, significantly increasing the selling pressure on Bitcoin.
Why is #Bitcoin stuck at $100k-$110k?
— CryptoVizArt.₿ (@CryptoVizArt) July 1, 2025
Long-term holders (1+ years) were selling $800M+ daily in early June, while whales dumped $440M+ daily.
That's a lot of profit-taking pressure keeping the price range-bound. 📊 pic.twitter.com/EtAl6t7Nvb
These trends are crucial in explaining why BTC failed to respond to institutional accumulation. The continued offloading by early adopters and large holders may also reflect a shift in market cycles or profit-taking after extended periods of accumulation.
Also Read: Michael Saylor’s Strategy Adds $531M in Bitcoin, Hits 597K BTC Amid Sell-Off Speculation
Weak U.S. Demand Undermines Momentum
Further dampening bullish sentiment is the Coinbase Premium Index, a measure often used to gauge U.S. investor demand. As of July 1, the index remained slightly above zero, but didn’t break significantly higher, indicating lukewarm buying interest from U.S. institutions and retail investors.
This weakening domestic appetite may be another reason BTC failed to sustain its rally following Strategy’s announcement.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
