Strategy Hints at New Bitcoin Move After Month-Long Buying Freeze
Strategy Inc's CEO Michael Saylor has hinted at a possible new Bitcoin move after a month-long buying freeze, which is the longest such hiatus in two years. On Sunday, July 26, he shared the company's Bitcoin acquisition chart on X with a cryptic caption 'We're gonna need another color,' his fifth enigmatic message since the last confirmed purchase on June 22.
The company has abstained from buying Bitcoin for four consecutive weeks, and its shares ended Friday's session at $91.67, down from the previous week's close of $94.85. Strategy maintains a position of 843,775 BTC with an average purchase price of $75,476, resulting in an unrealized loss of approximately $8.6, $9.3 billion at current Bitcoin prices of $64,600, $65,000.
The company's cash reserve currently totals $3.225 billion, sufficient to cover approximately 1.8 years of dividend requirements. Strategy is scheduled to release second-quarter earnings on Thursday, July 30, following the conclusion of regular U.S. market trading.