- Strategy has increased its Bitcoin holdings to 818,334, now controlling over 4% of its circulating supply.
- A new Bitcoin proposal drew widespread backlash because it sought to redistribute Satoshi’s idle BTC supply.
It’s business as usual for Strategy, opening this week with a massive Bitcoin (BTC) acquisition. Meanwhile, behind the scenes, a longtime Bitcoin developer proposes redistributing Satoshi Nakamoto’s 1.1 million dormant BTC holdings.
Strategy’s Aggressive Bitcoin Purchases Resume
Strategy met Monday with a 2,373 BTC purchase announcement. Its latest batch of acquisitions from April 20 to 26 cost around $255 million at an average price of $77,906 per BTC.
The move increases Strategy’s digital asset holdings to 818,334 BTC, which it secured for a total of $61.81 billion at $75,537 per BTC. The haul accounts for nearly 4.09% of Bitcoin’s 20.02 million circulating supply or 3.9% of the premier crypto asset’s 21 million cap.
The company sourced funding for the transactions entirely from the sale of 1.45 million shares of MSTR common stock. Despite that, it maintains a Market-to-Bitcoin Net Asset Value (mNAV) of 1.25, indicating that the market values the company at a premium in relation to its BTC holdings.
Recognizing the looming quantum threat to the asset on which it laid the new foundations of its company, Strategy launched the Bitcoin Security Program during its fourth-quarter earnings call for the 2025 fiscal year. Michael Saylor, the business’s executive chairman, stated that the initiative will serve as a platform for coordination among members of the global cyber, crypto, and Bitcoin communities, as vital technologies transition to a post-quantum (PQ) environment.
Bitcoin Fork Proposal for eCash
One of the primary points of contention in the digital asset community amid the countdown to Q-Day, a scenario in which a quantum computer will pose a significant threat to Bitcoin and crypto, is Satoshi’s idle BTC holdings. He has notably locked over 1.1 million of the digital asset’s supply since launch, and its lack of movement since then has raised suspicions about the creator’s fate.
Some warned that bad actors taking control of the stash could crash the market and compromise the protocol’s integrity. As a result, several crypto security experts and cypherpunks proposed either burning or redistributing them.
The most recent one came from Paul Sztorc, a longtime Bitcoin developer. He suggested migrating Bitcoin to a new chain called eCash, with its own token also called as such.
If the consensus approves, the new chain will clone all BTC records. However, it would flag idle holdings like Satoshi’s as “inactive,” and their balances would be redistributed to the community. Advocates argued it would make the entire BTC supply more usable and liquid.
On the other hand, several people called it outright theft. The opposition emphasized that such an action would set a bad precedent and run counter to Bitcoin and crypto’s mantra: “not your keys, not your coins.”
Most agreed to allow Bitcoin to migrate to PQ without interfering with its ownership records, as freezing or seizing Satoshi’s coins would undermine its core values and purpose.
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