Days Between Purchases

Days Between Purchases is the average interval, in days, between each of a company’s BTC acquisitions for its treasury.

Formula: Days Between Purchases = Days Since First Purchase ÷ Number of Purchases Put simply, it tells you how frequently a company is stacking additional BTC on its balance sheet, offering a practical snapshot of the cadence and consistency of their accumulation strategy.

Why Does This Metric Matter?

1. Reveals Accumulation Strategy Short intervals: Signal an ongoing commitment, possibly following a dollar-cost averaging (DCA) approach or consistent monthly buying plan. This often reduces timing risk by spreading purchases across many price points. Long intervals: Suggest a “lump sum” or opportunistic style, where management times large buys around perceived dips or with available capital.

2. Gauges Risk Management Steady, frequent buys tend to smooth out volatility and demonstrate a disciplined approach. Infrequent, large purchases can expose a company to improper market timing and increased volatility.

3. Strategic Signaling Investors can infer management conviction and flexibility. A regular buying rhythm may show high bitcoin conviction; sporadic large purchases might reveal opportunism or capital constraints.