Saylor hints Strategy may resume Bitcoin buys with $6.69B war chest

Saylor's "We're Back" post Sunday revived speculation that Strategy may resume Bitcoin purchases after a two-month pause, backed by $6.69 billion in dollar liquidity.

The cryptic message, posted with a holdings chart on social media, follows a period in which Strategy paused BTC acquisitions while building its cash buffer. The company's last Bitcoin purchase was in June 2026, and it has sold 6,948 BTC for roughly $432.5 million since May to fund preferred dividends and STRC buybacks, according to SaylorTracker data.

Strategy holds 840,447 Bitcoin at an average cost of $75,653, making it the largest corporate BTC treasury at roughly 4 percent of total supply. As of Aug. 28, the reserve was worth $66.79 billion against a cost basis of $63.36 billion, per SaylorTracker. The company also maintains cash reserves equal to 2.6 times its annual obligations of $1.76 billion, according to a Regime Intelligence report.

A renewed purchase by the largest corporate Bitcoin holder could add significant buy-side pressure to the market. Bitcoin traded at $77,472 on Aug. 28, down 3.7 percent over 24 hours after Federal Reserve Chair Kevin Warsh's hawkish Jackson Hole speech. Nansen senior research analyst Nicolai Sondergaard flagged the $80,400 level as the key breakout threshold, noting that a close above that level with expanding open interest would indicate renewed conviction. The next major options expiry lands Sept. 4, with meaningful open interest already built at the $82,000 strike.

Strategy's financing structure has shifted since the market downturn. The company raised $334 million selling MSTR stock in the week to Aug. 16 without touching its Bitcoin, then $2.01 billion the following week, according to company disclosures. CEO Phong Le said in May that Strategy would sell Bitcoin "when it's advantageous to the company," a departure from the firm's long-held "never sell" stance. The company has since committed to not issuing common shares to buy Bitcoin unless valued at a premium to its holdings.

The choice between selling Bitcoin and issuing equity now turns on which is cheaper at the time. Saylor has previously outlined a vision for Strategy as a "Bitcoin bank" with a trillion-dollar valuation, building capital market instruments tied to Bitcoin. Peer treasury companies including MARA Holdings and Riot Platforms have adopted similar playbooks, though MARA offloaded around 15,000 BTC in March 2026 to repurchase convertible debt.

If Strategy resumes purchases, the size of the initial acquisition will be closely watched. The company's $6.69 billion in dollar liquidity represents roughly 8.6 percent of its current Bitcoin holdings by value, and a deployment of that scale would mark one of its largest single purchases. Bitcoin's recovery above $80,000 in recent days, supported by Treasury bond buyback plans, has improved the economics of equity issuance for the company, potentially making fresh acquisitions more attractive.

This article is for informational purposes only and does not constitute investment advice.