Strategy Signals Resumption of Bitcoin Buys After Five-Week Hiatus
After a five-week hiatus from buying Bitcoin (BTC), institutional player Strategy is signaling its return to purchases. Co-founder Michael Saylor posted on social media that the 'Bitcoin Drive engaged' statement, sparking expectations of a new purchase announcement.
The company has been accumulating BTC at an average price of $75,476, and currently holds 843,775 units in its portfolio with a total value of $53.3 billion. This represents a paper loss of approximately $10.4 billion compared to the initial investment cost of $63.69 billion.
Strategy last purchased 520 BTC on June 22 and sold 3,588 units between June 29 and July 5 to manage its cash reserves. The company's steady approach has bolstered institutional confidence by creating a positive impact on market psychology.
Saylor's latest move proves that Strategy is committed to its Bitcoin-centric growth model and will proceed with purchases under favorable liquidity conditions. Investors are now awaiting a potential new purchase announcement from the company this Monday.