Strategy Sends Signal it May Resume Buying Bitcoin

Strategy, a company that holds Bitcoin (CRYPTO:BTC) in its portfolio, has sent a signal that it may resume buying Bitcoin after a 10-week pause. The company's CEO, Michael Saylor, posted on social media 'We're Back,' which has previously preceded Strategy's purchase announcements.

In the past 10 weeks, Strategy focused on strengthening its balance sheet by building a US$5.1 billion reserve and a US$1.59 billion cash pool. It also used this time to build US$6.69 billion in dollar liquidity. During this period, Strategy held onto its existing Bitcoin holdings, which total 840,447 coins at an average cost of around US$75,385 per coin.

The company's latest Nasdaq close was US$127.31 on August 28, down 7.34% from the previous session. At the time of reporting, the price of Bitcoin was $77,881.29.