Strategy to Resume Bitcoin Buying by End of 2026

Strategy, formerly known as MicroStrategy, has announced plans to resume its bitcoin buying program by the end of 2026. Despite a brief stretch of net selling that unsettled some investors, the company still holds an impressive 840,447 BTC, down from 846,000 earlier this year.

The sales were characterized by CEO Phong Le as 'tactical moves' designed to enhance the firm's capital structure. This involved using cash to shore up its balance sheet and normalize the value of its STRC preferred stock product, which had drifted from its intended value.

Strategy has been buying BTC since 2020 under executive chairman Michael Saylor's guidance, with purchases funded through convertible notes, preferred equity offerings, and straight equity raises. Saylor's thesis is that bitcoin serves as a superior store of value compared to cash.