Michael Saylor's company, Strategy, has indicated its intention to purchase Bitcoin for the 11th week in a row, beginning on April 14. This week, on June 23, Strategy acquired 245 BTC for $26 million, raising its total holdings to 592,345 BTC, valued at over $63.6 billion. Since its Bitcoin investment, Strategy has gained more than 52%, translating to an unrealized capital gain of over $21.8 billion. Analysts are debating how this rapid accumulation will influence Bitcoin prices, especially as some competing firms in the Bitcoin treasury space are financing acquisitions through debt, potentially risking a bear market for Bitcoin. The report from venture capital firm Breed suggests that only a few treasury companies will survive in a downturn, and many newer firms will have to secure capital under stricter conditions. Nonetheless, Strategy is positioned well to endure market fluctuations due to its significant holdings and experience through previous downturns. With projections indicating a 91% chance of surpassing the S&P 500 in Q2 2025, Strategy's disciplined accumulation strategy may set a benchmark for success among Bitcoin treasury companies.

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