Saylor's 'We're Back' Post Sparks Speculation of New Bitcoin Buys

Strategy's Executive Chairman Michael Saylor posted 'We're Back' on X on August 30, hinting at the firm's first Bitcoin (BTC) purchase in two months. This cryptic message follows a pattern where Saylor posts similar messages on Sundays ahead of formal BTC treasury announcements on Monday mornings.

The company last confirmed a BTC purchase on June 22, but paused accumulation and focused on rebuilding reserves and buying back preferred stock STRC instead. During this period, Strategy generated $5.1 billion in cash through common stock offerings and used some of that capital to buy back STRC, which had been trading below its $100 par value.

With nearly four years of preferred dividend coverage now secured, analysts believe new capital raised will be more likely to go toward BTC purchases than adding to dollar reserves. Strategy holds 840,447 BTC at an average cost basis of approximately $75,385 per coin, making it the largest corporate treasury holder of BTC among publicly listed companies.