MicroStrategy Poised to Resume Bitcoin Buying After 10-Week Pause

Michael Saylor, CEO of MicroStrategy, hinted that the company will resume buying Bitcoin after a 10-week pause. The decision comes as the company's cash and debt balance has shifted, allowing for Bitcoin purchases without hindering its finances.

The company holds approximately $6.69 billion in cash while carrying approximately $6.71 billion in convertible note debt, resulting in a net leverage ratio of just 0.1%. This is a significant change from the summer, when there was an inverse spread between cash and debt that led to traders pricing in the risk of companies being forced to sell assets.

The company's Bitcoin purchase records will be reflected in its weekly report, expected to be published on Monday, August 31. Saylor posted a chart showing a total holding of 840,447 Bitcoins, valued at $65.72 billion, alongside his tweet hinting that the company will continue buying Bitcoin.