Saylor Hints at Strategy's Return to Bitcoin Buying After 10-Week Hiatus
Strategy Inc's Executive Chairman Michael Saylor hinted at a potential return to buying Bitcoin after a 10-week hiatus. On Sunday, he tweeted 'We're ₿ack' without providing any purchase details. The company has held 840,447 BTC worth $65.72 billion since the last reported buy on June 22.
During the pause in accumulation, Strategy focused on capital management, selling Bitcoin and raising cash through stock sales and preferred stock buybacks. The company raised over $2.01 billion between August 17 and August 23 using its at-the-market stock-sale program and increased its 'Stretch' preferred stock dividend to 12 percent.
Strategy's largest corporate BTC holding is down slightly from the 847,363 BTC it held in late June after selling some of its holdings during the pause. The company's MSTR stock closed down over 7% on Friday, but retail sentiment around it remains extremely bullish.