Michael Saylor’s Strategy kicks off May with a new Bitcoin acquisition. Here’s an overview of what we might expect for the remainder of the month, drawing from previous trends.
Strategy Boosts Bitcoin Holdings by 1,895 BTC
In a recent post on X, Michael Saylor, co-founder and chairman of Strategy, announced the firm’s latest purchase of Bitcoin. According to an SEC filing, the company added 1,895 BTC at an average cost of $95,167 between April 28 and May 4.
This purchase, totaling $180.3 million, brings Strategy’s overall Bitcoin holdings to 555,450 BTC, amounting to a total investment of $38.08 billion.
Recently, Strategy has been active in the Bitcoin market. CryptoQuant analyst Maartunn noted a significant trend in these purchases.
Below is a chart shared by the analyst.
According to the analyst, the initial purchase of each month by MicroStrategy tends to be the smallest, with larger acquisitions following as the month progresses. Given that the latest acquisition of 1,895 BTC marks the first for May, it’s likely that subsequent purchases could be larger based on this observed pattern.
The company’s Bitcoin holdings currently have an average cost of around $68,550, translating to a profit of about 38% at the current Bitcoin exchange rate, suggesting that Saylor’s strategy is proving effective.
In related news, CryptoQuant analyst Axel Adler Jr provided insights into Bitcoin’s performance through the Composite Volatility Index.
Adler Jr pointed out, “By examining Bitcoin address activity—central to the Composite Volatility Index and its 30-day variation—we can identify overarching market trends.”
Here’s the chart depicting the indicator shared by the analyst, highlighting daily values and 30-day changes over recent years:
Per Adler Jr, when the 30-day change in the Bitcoin Composite Volatility Index falls below 0%, it signals a phase of accumulation among investors. Conversely, a value exceeding 15% suggests a distribution or panic-selling phase.
The recent graph indicates a negative trend in the 30-day change of the indicator, currently at -3.5%, suggesting that investors are indeed accumulating Bitcoin.
Current BTC Price
Earlier today, Bitcoin dropped to below $94,000 but has since rebounded, with its price now resting at $94,800.
