On March 24, Michael Saylor announced that his company Strategy (previously MicroStrategy) had bought an additional 6,911 BTC for $584.1 million, bringing the firm's total above 500,000 Bitcoin—a historic milestone.

This means Strategy currently controls 2.4% of the entire Bitcoin supply, the largest stake ever held by a publicly traded firm.

MSTR, Strategy's stock, trades at $328.35 per share at press time. According to TipRanks, Gautam Chhughani from Bernstein is bullish on Strategy, forecasting that it could soar to $600 within three months.

Despite the massive purchase of Bitcoin, whale transaction activity has plummeted since its peak in Q4 2024.

According to data by Santiment, whale transactions over $100,000 have plummeted since January 2025, indicating that the bigger players are retreating or have chosen to wait on the sidelines. This further showcases that whales are neither buying nor selling their Bitcoins.

Adding to the cautious sentiment is the Bitcoin Bull Score Index, which has fallen to 20 — its lowest level since January 2023. This score, registered by CryptoQuant, averages investor sentiment and market strength.

Such a low reading is a historically reliable indicator of weaker momentum and limited bullish conviction in the immediate term.

However, MicroStrategy's Bitcoin accumulation has been historically associated with price rebounds. The firm's acquisition strategy sped up during bear phases, often leading to recoveries.

At the time of writing, Bitcoin is trading at $88,428.82, as per Kraken’s price feed.