Michael Saylor’s Strategy has accumulated so much bitcoin over so many years that it will be difficult for any public company to match, according to bitcoin entrepreneur Anthony Pompliano.
Pompliano said on The Pomp Podcast, published to YouTube on Tuesday:
“Is it possible? Absolutely. Is it likely? I don’t think so.”
Strategy’s stash in context
Strategy holds 671,268 bitcoin, which Pompliano framed as roughly 3.2% of bitcoin’s supply.
Why catching up is difficult
Pompliano said companies could theoretically “tap capital markets,” but noted Strategy’s first major 2020 purchase was about $500 million, when bitcoin traded between $9,000 and $10,000.
He said those early buys now represent a far larger dollar value, making it hard for latecomers to replicate the same accumulation without raising enormous sums.
Pompliano said:
“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.”
Selling concerns and OTC buying
Pompliano also addressed concerns that Strategy’s growing share could influence bitcoin’s price.
Strategy CEO Phong Lee recently said the company probably won’t sell any bitcoin until at least 2065.
For Strategy’s historical holdings, see Bitbo’s Strategy bitcoin treasury tracker.
The report noted Strategy executes large purchases through over-the-counter desks, which are designed to absorb large flows without significantly impacting the market.
