Bitcoin's Price Relies on Strategy's Record Buying Under Michael Saylor
In 2026, it is neither.Bitcoin is trading just over $77,500, down almost 30% from a year ago. What appears to be largely preventing a steeper fall — and what has been doing so for much of this year — is a single company operating on a scale that has no precedent in the asset’s history. Strategy Inc., the company run by Michael Saylor, has acquired 171,238 Bitcoin year-to-date, according to its public filings.
- ▪In 2026, it is neither.Bitcoin is trading just over $77,500, down almost 30% from a year ago.
- ▪What appears to be largely preventing a steeper fall — and what has been doing so for much of this year — is a single company operating on a scale that has no precedent in the asset’s history.
- ▪Strategy Inc., the company run by Michael Saylor, has acquired 171,238 Bitcoin year-to-date, according to its public filings.
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MarketsCryptocurrenciesBitcoin Grows More Dependent on Saylor’s Buying MachineFacebookXLinkedInEmailLinkGiftExpandMichael Saylor, co-founder and executive chairman of Strategy Inc., speaks during the Bitcoin 2026 conference in Las Vegas.Photographer: Ian Maule/BloombergFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Olga KharifMay 20, 2026 at 3:54 PM UTCUpdated on May 20, 2026 at 8:46 PM UTCBookmarkSaveFor most of its history, Bitcoin’s price was driven by a sprawling cast of buyers: idealists, speculators, early adopters, and, more recently, institutional investors looking for a new portfolio hedge.
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