While it may be possible for a public company to catch up to Michael Saylor’s Strategy Bitcoin holdings, it is probably unlikely, Bitcoin entrepreneur Anthony Pompliano says.
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Michael Saylor’s Strategy has been buying so much Bitcoin for so long that it is unlikely any public company will be able to catch up, according to Bitcoin entrepreneur Anthony Pompliano.
“Very hard to see that happening,” Pompliano said on The Pomp Podcast on YouTube on Tuesday.
Strategy holds 671,268 Bitcoin () out of the total 21 million supply, valued at about $58.61 billion at the time of publication, to Saylor Tracker. Strategy announced Monday that it acquired 10,645 Bitcoin for $980.3 million, paying an average per coin.
“Is it possible? Absolutely. Is it likely? I don’t think so,” he said. Strategy holds around 3.2% of Bitcoin’s supply, which Pompliano said is “a big number, but it’s also a small number.”
“It’s not like they own 10%,” he said.
Strategy’s Bitcoin holdings have caused some concerns
However, Pompliano said that there are certain things that public companies could do, such as “tap capital markets,” but said that Saylor’s initial Bitcoin purchase in 2020 totaled around $500 million, when Bitcoin was trading between $9,000 and $10,000.
That purchase alone is now worth over $4.8 billion as Bitcoin is now at $87,578.
“So if you have 9x or 10x the amount of money for every purchase that they made, you gotta raise hundreds of billions of dollars, or you got the greatest business in the world that’s throwing hundreds of billions of dollars,” he said.
Strategy unlikely to sell Bitcoin until 2065: CEO
Pompliano also addressed concerns around Strategy’s growing share of Bitcoin holdings, explaining that some observers worry about the company’s potential ability to influence the price of the asset.
However, Strategy CEO Phong Lee recently CNBC that the company probably won’t sell any Bitcoin until at least 2065. Meanwhile, Saylor has often in X posts that he is “going to be buying the top forever.”
Related:
Many market participants view Strategy’s Bitcoin purchases as a bullish signal for Bitcoin’s price. However, the company executes its significant purchases through over-the-counter (OTC) desks, which are designed to absorb large flows without impacting the market.
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