Strategy's Bitcoin Buying Pace Slows Amid Growing Competition and Stock Premium Drop

In K33, the slowdown in Bitcoin purchases by Strategy was commented on. Between May 19 and May 25, the firm bought 4,020 BTC amounting to $427.1 million at an average price of $106,237. This is significantly less than the previous week, when the purchases totaled $705.7 million. The reasons for the slowdown include the decline in the company's (MSTR) stock premium to its Bitcoin reserves and increasing competition among other investors. From November 4 to December 16, MSTR attracted an average of $2.13 billion weekly, but in the last three weeks, this has decreased to only $788 million. Currently, over 70 companies hold Bitcoin in reserves, adding to the competitive landscape. For instance, Twenty One Capital and Nakamoto recently joined this strategy. As of now, Strategy owns 580,250 BTC, representing 2.75% of the total supply. The company's unrealized profit stands at approximately $23 billion with the current asset price around $109,000.