Strategy Resumes Bitcoin Buying Amid Macro Uncertainty

Strategy, a financial institution, has resumed buying Bitcoin after a nearly ten-week pause. Between August 24 and 30, it acquired 4,603 Bitcoins at an average price of $80,318, bringing its total holdings to 845,050 Bitcoins valued at around $63.73 billion.

The purchase was made possible by the company's sale of 4.53 million shares of MSTR common stock, generating $602.8 million in net proceeds. Of this amount, $369.7 million funded Bitcoin purchases, while the remainder covered repurchases of STRC preferred shares and dividends.

Strategy's return to buying reflects a restart of its capital cycle, which now includes active management across common stock, preferred stock, cash reserves, and Bitcoin. The company has also sold 6,916 Bitcoins between late June and early August at average prices ranging from $59,000 to $64,000.

The latest purchase price of $80,318 is below the resistance zone of $81,000 to $86,000, where long-term holders have endured the decline from the 2025 peak to $62,000. A break above this zone could lead to a target range of $90,000 to $95,000.

However, macro conditions continue to cap valuation expansion due to high real rates and interest rate uncertainty. The Federal Reserve's hawkish stance has pushed market-implied odds of a September rate increase to around 60%, limiting the opportunity cost of holding non-yielding assets like Bitcoin.