Saylor Sparks Bitcoin Purchase Frenzy with Sunday Message
Strategy Inc., led by Executive Chairman Michael Saylor, has sparked speculation that it will announce another Bitcoin purchase after posting 'Bitcoin Drive engaged' on Sunday. This signal follows recent treasury sales that reduced the company's holdings to 843,775 BTC.
The live ledger of Strategy shows two recent Bitcoin sales totaling 3,588 BTC, including 1,363 BTC and 2,225 BTC. These sales were made to fund preferred-stock distributions and replenish the U.S. dollar reserve, according to the company's SEC filing.
Saylor's Sunday post accompanied the company's familiar acquisition tracker, which displayed Strategy's Bitcoin reserve at 843,775 BTC with a market value of approximately $53.25 billion. The unrealized performance is -$10.58 billion (-16.58%), and there have been 113 purchase events as of Aug. 2.
The timing of Saylor's message has revived expectations that Strategy will announce another Bitcoin purchase on Monday, similar to the July 27 announcement when he posted 'We're gonna need another color' before disclosing a larger cash reserve.