Strategy Hints at New Bitcoin Purchase After Five-Week Break

Strategy, led by Chairman Michael Saylor, may be preparing to buy Bitcoin again after a five-week break. Saylor's recent social media post has fueled expectations of a new purchase. The company typically buys Bitcoin every week and shares its purchases on Sundays.

The chart posted by Saylor included the note 'Bitcoin Drive engaged,' which some market participants are interpreting as an indirect message hinting at a new purchase announcement on Monday.

Strategy's last Bitcoin purchase occurred on June 22, when it bought 520 BTC for approximately $34.9 million. However, between June 29 and July 5, the company sold 3,588 BTC to raise around $216 million in cash to finance preferred stock payments and strengthen its dollar reserves.

As of July 26, Strategy held 843,775 BTC as per a recent filing with the U.S. Securities and Exchange Commission (SEC). At current prices, the company's Bitcoin portfolio is valued at approximately $53.3 billion, while the cost of the position is estimated to be around $10.4 billion below its actual value.