As Strategy grows, fears are beginning to multiply. Appearing on Natalie Brunell’s Coin Story podcast, a Strategy executive answered several questions about the company. Among them: do Strategy’s purchases impact the price of Bitcoin? According to the executive, no. Really?
A Strategy executive reassures: “We have no impact on the price of Bitcoin.”
Shirish Jajodia is Director of Investor Relations for Strategy, the crypto giant that is buying Bitcoin left and right.
The company’s strategy is based on fundraising to finance massive Bitcoin purchases. Suffice to say that investor relations are at the heart of this model.
In a lengthy interview with the Coin Story podcast, Shirish Jajodia answered questions from host Natalie Brunell.
I sat down with @shirishjajodia, Strategy’s Corporate Treasurer & Head of Investor Relations, for an evergreen conversation on the company’s $70B+ Bitcoin treasury, the digital transformation of IR, Michael @Saylor‘s bold Bitcoin price predictions and much more.
Timecodes:… pic.twitter.com/SdIkAPgPPq
— Natalie Brunell ⚡️ (@natbrunell) August 19, 2025
“How come you don’t move the market when you sometimes make these massive purchases?” asks Natalie Brunell. It’s a legitimate question for two reasons:
First, if Strategy’s purchases are driving the market up, then we might believe that Michael Saylor’s fantastic results are merely the result of his impact on the market.
Second, if the 629,376 Bitcoins purchased by Strategy are driving the market up, the company would be seen as a giant machine manipulating the price of Bitcoin with Wall Street money.
This is a difficult question for Shirish Jajodia to answer: even if Strategy’s intentions were perfectly pure, purchases inevitably have an impact on supply and demand.
He dismisses these accusations out of hand: “The way we buy Bitcoin has no impact on its price.”
Strategy’s Bitcoin purchasing strategy
Michael Saylor’s company began purchasing Bitcoin in 2020. It now sits on a formidable war chest: 629,376 Bitcoins, worth $70.85 billion at the current Bitcoin price.
The question of purchases and their potential impact on price arose from the outset. “We manage our purchases so that they represent a certain proportion of market liquidity,” he explained. “That way, we don’t impact the price of Bitcoin.”
Cointelegraph journalists verified this information and noted that, in the days following Strategy’s massive Bitcoin purchases, Bitcoin’s price could rise (+9.28% in November/December 2024) or fall (-4% last August).
In general, Strategy’s Bitcoin purchases take place almost every week. Like a bull charging headlong, Michael Saylor continues to accumulate digital gold. Whether the price is at its peak or at its lowest, he buys.
In his own words: “I only buy Bitcoin with money I can’t afford to lose.” This flies in the face of the famous adage “only invest what you are prepared to lose” and is a provocative way of showing his determination and blind faith in Bitcoin.
However, the community is no longer united behind Michael Saylor, nor behind other Bitcoin Treasury Companies or Altcoin Treasury Companies.
The business model has been an undeniable success, but more and more observers are wondering what will become of these companies at the end of a bear market. Behind the scenes, the idea that crypto messiahs always end up collapsing is becoming increasingly prevalent. To be continued.
