Institutional Whale Gobbles Up $1.34B in Bitcoin—Portfolio Balloons to $59B

Another day, another nine-figure Bitcoin buy from the suits who once called crypto a scam. A single institutional strategy just deployed $1.34 billion into BTC, pushing its total holdings past $59 billion. So much for ’digital tulips.’

The move comes as Bitcoin consolidates near all-time highs, with whales clearly betting this rally has legs. Meanwhile, retail traders are still trying to time the perfect entry—good luck with that.

Fun fact: That $59B position is now roughly equivalent to the GDP of Croatia. Just don’t expect these whales to spend their stacks on Adriatic beachfront property anytime soon.

According to on-chain data, the company’s recent trades are already in the green. The May 5 acquisition alone has appreciated over 9% in under a week, while the April 28 buy has generated more than $177 million in unrealized profit—a gain of 12.47%.

However, not everyone is impressed. Critics like Peter Schiff have warned that Strategy’s rising average cost could backfire if the market turns. He noted that the company’s heavy use of borrowed capital could magnify losses should prices dip below the average buy-in.

Still, Strategy’s bitcoin war chest now accounts for roughly 2.7% of the entire maximum supply of 21 million coins. With BTC currently trading around $104,000, the firm’s holdings are valued near $59.2 billion—an estimated 50% return on its total investment.