StrategyB's Bitcoin Accumulation Efforts: A Gift for Late-Cycle Allocators?

Bitcoin's struggles below the $65,000 level have led to increased volatility and limited conviction among traders. However, a recent report from CryptoQuant has shed light on a notable structural development involving StrategyB, formerly known as MicroStrategy.

StrategyB has been accumulating Bitcoin since 2011, with CEO Michael Saylor being one of the most vocal long-term advocates for the asset. The company's initiative reflects its conviction that BTC could eventually surpass the $1 million mark over time.

The report highlights the scale of StrategyB's efforts, with annual investment figures totaling $1.1 billion in 2020, $2.57 billion in 2021, and $22.4 billion in 2025. The company holds approximately 717,131 BTC, equivalent to around 3.4% of Bitcoin's circulating supply.

Bitcoin is currently trading below StrategyB's estimated realized price, which sits near $76,000. This metric reflects the company's average acquisition cost across its holdings. However, it's essential to note that realized price is a cost-basis metric and not a valuation model.