Michael Saylor Signals Resumption of Bitcoin Purchases After Two-Month Hiatus
- Strategy resumed its weekly Bitcoin purchases last week after a two-month break, with the last purchase reported on June 22.
- Co-founder Michael Saylor hinted at the new purchase via an X post, stating “We’re ₿ack,” and shared their Bitcoin portfolio tracker.
- The company holds over 840,447 BTC, acquired for $63.36 billion at an average price of $75,385 per BTC.
- Following Saylor’s announcement, traders on Polymarket estimated a 94% chance of another BTC purchase announcement soon.
- Currently, Bitcoin is trading near $79,000 after rising from a low of around $63,000 in recent weeks.
Saylor’s hint follows the creation of a $1.59 billion USD cash pool intended for treasury purposes and potential future BTC purchases. Strategy’s unrealized profit now stands at nearly $2.6 billion due to recent market rallies.
With over $5 billion in USD reserves and significant BTC holdings, Strategy’s renewed purchasing activity indicates strong confidence in the cryptocurrency market.(Source)
