Michael Saylor Hints at Strategy Resuming Bitcoin Purchases After 2-Month Break

Boluwatife Adeyemi
Boluwatife Adeyemi

Boluwatife Adeyemi

Managing Editor (News)
Expertise : Crypto, Stocks, Tokenization, AI, Prediction Markets, Crypto Regulation
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.
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an image of Michael Saylor and the Strategy logo

Highlights

  • Saylor signaled that Strategy bought Bitcoin last week.
  • This follows a two-month break from its conventional weekly purchases.
  • Crypto traders are also betting that Strategy will announce a Bitcoin purchase tomorrow.

Bitcoin treasury firm Strategy appears to have bought more BTC last week, resuming its conventional weekly purchases after a two-month break. The company’s co-founder, Michael Saylor, hinted at the purchase, which comes just a week after they created the USD cash pool.

Saylor Hints At A New Strategy Bitcoin Buy

In an X post, Saylor posted the company’s Bitcoin portfolio tracker with the caption, “We’re ₿ack,” signaling that they bought BTC last week. It is worth noting that the Strategy co-founder has gained a reputation for his Sunday posts, which have in the past foreshadowed a BTC purchase announcement the following day.

The Bitcoin treasury company had been on a two-month break from its conventional weekly Bitcoin purchases, with the last reported purchase on June 22. During this period, the company had instead offloaded some of its BTC holdings to buy back its preferred security and pay dividends on the stock.

Meanwhile, Saylor’s hint of a new Strategy purchase comes just a week after the company revealed that it had created a $1.59 USD cash pool for its treasury purposes. The company noted that it could use some of the cash for future BTC purchases.

The company currently holds over 840,447 BTC, which it bought for $63.36 billion at an average price of $75,385 per BTC. It also holds a USD reserve of just over $5 billion.

Traders Betting On A BTC Purchase Announcement Tomorrow

Crypto traders are also betting that Strategy will announce a new Bitcoin purchase tomorrow. Data from the top crypto prediction market platform Polymarket shows a 94% chance that this will happen.

Source: Polymarket

The odds rose sharply from a low of around 18% to 94% after Saylor’s X post. Meanwhile, Bitcoin has also climbed on the back of Saylor’s post, with the leading crypto currently trading at nearly $79,000, according to TradingView data.

Strategy’s Bitcoin investment is once again in the green following Bitcoin’s rally over the last two weeks, rising from a low of around $63,000. Saylor’s company currently holds an unrealized profit of almost $2.6 billion.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.