Key facts
- Strategy, a Bitcoin treasury firm, appears to have resumed weekly BTC purchases.
- Co-founder Michael Saylor hinted at the resumption via an X post.
- The company had taken a two-month break from its regular purchases.
- Strategy recently established a $1.59 billion USD cash pool.
- Traders on Polymarket show a 94% chance of a purchase announcement.
Strategy, a firm focused on Bitcoin treasuries, appears to have resumed its weekly Bitcoin purchases after a two-month pause. Michael Saylor, the company's co-founder, signaled the move with an "We're ₿ack" post on X, accompanied by a visual of the company's Bitcoin portfolio tracker. This hint comes shortly after Strategy established a $1.59 billion USD cash pool, which the company indicated could be used for future Bitcoin acquisitions.
The company had ceased its regular Bitcoin acquisitions on June 22, opting instead to sell some holdings to repurchase preferred securities and issue stock dividends. Strategy currently holds over 840,447 BTC, acquired at an average price of $75,385 per coin for a total of $63.36 billion, and maintains a USD reserve exceeding $5 billion.
Crypto traders are anticipating a formal announcement, with data from the prediction market platform Polymarket indicating a 94% probability of a new Bitcoin purchase announcement. Bitcoin's price has seen an uptick, trading near $79,000, following Saylor's post. Strategy's Bitcoin investment is now showing an unrealized profit of nearly $2.6 billion, benefiting from Bitcoin's recent rally.