Saylor's 'Doing Business' Message Sparks Speculation Over Strategy's Next Bitcoin Move

Strategy Inc.'s executive chairman Michael Saylor sparked fresh speculation about the company's next move after posting a familiar Bitcoin tracker chart on X with the caption 'Doing Business'. This message has previously preceded Strategy's weekly updates on its massive Bitcoin holdings.

The chart showed a reserve worth $54.66 billion, 113 purchase events going back to Aug. 10, 2020, and an average cost of $75,653 per coin. However, the company's own dashboard put the combined reserve at $58.89 billion as of 10:06 a.m. ET, up $372 million on the day.

Strategy's public ledger shows four sales between June 1 and Aug. 3, with the most recent sale covering 1,638 BTC sold for about $104.73 million between July 27 and Aug. 2. The company reported an $8.22 billion net loss for the second quarter.

Strategy's stock closed at $100.01 on Aug. 7, up $3.16 or 3.26%, for a market value of $38.77 billion, less than the Bitcoin sitting on the balance sheet.