Strategy Signals Return to Weekly Bitcoin Buying

Strategy, the corporate Bitcoin holder led by Michael Saylor, has signaled it may resume weekly Bitcoin purchases.

Cointelegraph reported on April 6 that Saylor posted a Strategy tracker chart on X the previous day with the phrase "Back to Work." Because he has routinely shared similar posts before announcing Bitcoin purchases, the post was interpreted as a signal that buying could restart.

Strategy paused purchases for about a week in late March, marking the first break this year in its weekly buying streak. Its most recent purchase was on March 23, when it bought about $77 million of Bitcoin at an average price of $74,326 per token.

The company has mainly funded its Bitcoin purchases through issuance of its perpetual preferred stock, STRC. The security is structured to trade around its $100 par value and includes a monthly dividend adjustment mechanism.

Strategy uses proceeds from new STRC share sales to buy Bitcoin. Based on funds raised as of April 3, STRC.LIVE estimates the company could purchase at least 1,821 additional Bitcoin.

The company has also announced a broader $44.1 billion fundraising plan to expand its Bitcoin purchases. The funds are to be raised through sales of common stock, MSTR, and STRC.

Strategy currently holds 762,099 Bitcoin with an average purchase price of $75,694. At the current market price of about $69,000, the holdings are in an unrealized loss position.

Bitcoin has risen about 1.2% over the past month, showing signs of a rebound. It is still down about 20% from the start of the year amid geopolitical risks and macroeconomic uncertainty.