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Michael Saylor hints Strategy may have bought bitcoin again
The X post comes after Strategy had paused bitcoin sales and instead shifted toward selling MSTR shares to raise U.S. dollar reserves.
Bitcoin climbed toward the $79,000 area as Strategy Executive Chairman Michael Saylor posted “We’re Back” on X, a message CoinDesk interpreted as a hint that Strategy may have resumed bitcoin purchases after stopping sales earlier this year.
CoinDesk said the likely buy would be Strategy’s first since June 22, and that bitcoin was up almost 1% over the past 24 hours and more than 2.5% from Friday’s low.
The report also tied bitcoin’s rebound to a risk-on shift following Federal Reserve Chair Kevin Warsh’s hawkish Jackson Hole speech on Friday.
According to CoinDesk, Strategy had spent months selling part of its bitcoin stash to bolster its balance sheet, then halted bitcoin sales and sold MSTR shares to increase U.S. dollar reserves, while also beginning preferred stock buybacks. CoinDesk added that with Strategy’s preferred-dividend coverage of nearly four years, any newly raised capital would likely support further bitcoin purchases and STRC buybacks rather than expanding U.S. dollar reserves.
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