Strategy Holds Off on Buying Bitcoin as Cash Balance Hits $3.2 Billion

Strategy, the company led by Michael Saylor, has held off buying Bitcoin for four straight weeks, its longest freeze in two years. The latest data shows that Strategy has $3.225 billion parked in cash.

The last confirmed Bitcoin purchase was 520 BTC worth around $34.9 million, which took place between June 15 and 21. Since then, the company's filings with the Securities and Exchange Commission have recorded no new buys, despite Michael Saylor teasing potential purchases on social media.

Between June 29 and July 5, Strategy sold a record 3,588 BTC for around $216 million, routing the proceeds towards preferred dividends and cash. The sale was part of a framework adopted in late June that authorized up to $1.25 billion of further Bitcoin sales.