Saylor's 'Bitcoin Drive Engaged' Sparks Speculation About Strategy's Next Move

Strategy's Bitcoin holdings have been quiet for five weeks, but Executive Chairman Michael Saylor may be signaling a return to buying. On August 2, he posted 'Bitcoin Drive engaged' on X, sparking speculation about an impending purchase. This comes after Strategy sold 3,588 BTC between June 29 and July 5, raising $216 million that went toward funding preferred stock distributions and replenishing its cash position.

The firm holds approximately $10.4 billion below total acquisition cost for its 843,775 BTC, acquired at an average of $75,476 per coin. Strategy's last confirmed purchase was on June 22, when it bought 520 BTC for $34.9 million. Analysts at TD Cowen and Benchmark have supported the company's moves to sell common shares and raise its US dollar reserve.

Strategy also announced that it will maintain its STRC variable annualized dividend rate at 12% for all August record dates, with each semi-monthly payment equaling $0.50 per share. The stock currently trades about 10.5% below its $100 par value, implying an effective yield of roughly 13.4%.