Strategy Signals Return to Buying Bitcoin After Two-Month Pause

Strategy, the largest corporate holder of Bitcoin, may resume buying the cryptocurrency after a two-month pause. The company halted Bitcoin sales in June and used the proceeds to build up its dollar reserves and start share buybacks of STRC.

The chairman of Strategy, Michael Saylor, posted a chart of the company's Bitcoin holdings on X with the message 'We're Back,' indicating that Strategy has likely added to its Bitcoin holdings for the first time since June 22. This comes as Bitcoin trades near $79,000 and has rebounded over 2.5% from its low after Federal Reserve Chair Kevin Warsh's hawkish Jackson Hole speech on August 28.

Strategy has strengthened its balance sheet since May by selling part of its Bitcoin holdings. However, it now has enough cash to cover roughly four years of preferred dividend payments, suggesting that future fundraising could be directed toward Bitcoin purchases and STRC buybacks rather than adding to dollar reserves.