Key Takeaways:
Bitcoin rose almost 1 percent to near $79,000 after Michael Saylor hinted Strategy resumed bitcoin purchases for the first time since June 22.
Saylor, executive chairman of the bitcoin treasury company, posted "We're Back" on X on Aug. 30 alongside Strategy's holdings tracker, a pattern that has preceded purchase announcements. Traders on Polymarket put a 96 percent probability on Strategy announcing a bitcoin buy between Aug. 25 and 31, up from about 18 percent before the post.
Strategy holds 840,447 bitcoin bought for $63.36 billion at an average price of $75,385, leaving an unrealized gain of roughly $2.8 billion with BTC trading near $78,719 as of 15:39 UTC. The company paused weekly purchases in June, instead selling some holdings to buy back its preferred stock and pay dividends, then raised $2 billion through MSTR share sales and created a $1.59 billion cash pool for treasury purposes. Its preferred shares, STRC, climbed as high as $98 on Friday, and the company holds a separate $5.10 billion reserve to cover debt, interest and preferred dividends.
Bitcoin dominance climbed above 60 percent, its highest since June, as the leading crypto outpaced altcoins. The rebound follows a 2.5 percent recovery from Friday's low after Federal Reserve Chair Kevin Warsh's hawkish Jackson Hole speech. MSTR shares closed at $127.36, up 7.31 percent.
A confirmed purchase would mark the end of Strategy's longest buying pause in recent months, with the company expected to disclose the transaction in a securities filing this week. With roughly four years of preferred-dividend coverage, any new capital raised is likely to fund bitcoin purchases and further STRC buybacks rather than bolster dollar reserves, according to the company's recent disclosures. The move would also reinforce bitcoin's dominance trend, potentially at the expense of altcoins, as the leading crypto extends a two-week rally from a low near $63,000. A purchase of even a few thousand bitcoin would add to the roughly $2.8 billion unrealized gain already sitting in Strategy's treasury.
This article is for informational purposes only and does not constitute investment advice.
