Saylor Teases Strategy’s Next Bitcoin Move Amid Speculation
MicroStrategy's Chairman and former CEO Michael Saylor has sparked speculation about his company's next move on Bitcoin. In a recent X post, he used the phrase 'Doing ₿usiness,' which some analysts believe indicates that Strategy is resuming its BTC purchases. However, a closer look at last week's events suggests a different story.
Last Sunday, Saylor posted another cryptic message before announcing his company's third Bitcoin sale of the year. The sale saw 1,638 units disposed of for over $100 million, bringing the total holdings to 842,138 BTC. Analysts at Lookonchain had flagged the sale beforehand.
The company used a portion of its proceeds to purchase its own STRC stock, which has seen a positive reaction since hitting a low below $80. Strategy halted its BTC purchases in late June to focus on rebuilding its USD reserve.