Saylor Triggers Bitcoin Buying Frenzy with 'Bitcoin Drive Engaged' Post

Strategy's Chairman Michael Saylor has sparked speculation about a potential Bitcoin purchase after posting a chart on social media with the note 'Bitcoin Drive engaged.'

The company, known for its regular BTC purchases, hasn't announced a new buy in five weeks. Following Saylor's previous message, 'We're gonna need another color,' Strategy revealed it had made no new Bitcoin purchases on July 27.

As of July 26, Strategy held 843,775 BTC, acquired at an average cost of $75,476 per Bitcoin, totaling $63.69 billion. At current prices, the company's Bitcoin portfolio is valued at around $53.3 billion, with a potential gain of approximately $10.4 billion below its actual value.

Strategy last purchased Bitcoin on June 22nd, buying 520 BTC for about $34.9 million, but between June 29th and July 5th, it sold 3,588 BTC to raise around $216 million in cash. The company increased its dollar reserves to $3.75 billion through common stock sales and initiated a buyback program for STRC shares.