Strategy Breaks Silence on New Bitcoin Purchase Plans

Strategy, one of the largest institutional players in the cryptocurrency market, has signaled its intention to resume Bitcoin purchases after a five-week hiatus. The company's co-founder Michael Saylor tweeted 'Bitcoin drive engaged', sparking expectations that a new purchase announcement is on the way.

The news comes as Strategy holds a total of 843,775 BTC in its portfolio, accumulated at a cost of $63.69 billion with an average price of $75,476. With Bitcoin currently trading around $63,200, the company's reserve value has declined to $53.3 billion.

Strategy last announced a purchase on June 22 and followed it up with a sale between June 29 and July 5 to manage its cash reserves. The new move shows that Strategy is maintaining its institutional accumulation strategy with resolve, regardless of market conditions.