MicroStrategy’s corporate treasurer and head of investor relations, Shirish Jajodia, clarified that the firm’s substantial Bitcoin acquisitions are managed to avoid disrupting market prices. Speaking on the Coin Stories podcast, Jajodia explained that purchases are structured around a fraction of available liquidity and often routed through over-the-counter (OTC) desks to prevent order-book imbalances.
Since the company began accumulating Bitcoin in 2020, its holdings have grown to 629,376 BTC, valued at approximately $70.85 billion. Despite speculation that such large transactions could drive prices higher, Jajodia noted that executions occur continuously and strategically when liquidity is abundant, ensuring that unit prices reflect prevailing market conditions rather than being inflated by the firm’s own activity.
Historical data on MicroStrategy’s notable acquisitions supports the claim. For example, the purchase of 55,000 BTC for $5.4 billion in late 2023 coincided with mixed price responses, while a 21,021 BTC buy in July did not prevent a subsequent 4 percent correction. Jajodia emphasized that these outcomes underscore the firm’s deliberate approach to balancing accumulation objectives with market stability.
Analysts observe that the company’s continuous accumulation strategy signals unwavering commitment to Bitcoin as a reserve asset. However, the long-term price trajectory will still depend on broader investor behavior, macroeconomic developments and derivative market dynamics. For now, MicroStrategy remains focused on expanding its Bitcoin reserve without becoming a price-moving force.
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