Strategy May Resume Bitcoin Buying as Saylor Says ‘Bitcoin Drive Engaged’
Summary
- Michael Saylor posted a message on X saying Bitcoin Drive had begun, raising the possibility of an additional Bitcoin purchase.
- Strategy said it holds 843,775 BTC acquired at an average purchase price of $75,476, and that the current decline in the Bitcoin price has left the value of its holdings about $10.4 billion below cost.
- Strategy said it has carried out a Bitcoin sale, an additional common-share issuance, and STRC preferred-share repurchases, and plans to keep the 12% annual dividend rate on STRC preferred stock in place until the shares trade steadily near their $100 par value.
Forecast Trend Report by Period
Michael Saylor, Strategy’s co-founder and chairman, posted a message suggesting the company could be preparing another Bitcoin purchase, drawing fresh attention from the market.
The Block reported on August 2 that Saylor shared a chart of Strategy’s Bitcoin holdings on X with the message, “Bitcoin Drive engaged.” The report said the company could disclose an additional Bitcoin purchase on Monday.
Strategy, however, has gone five straight weeks without announcing a new Bitcoin buy. That departs from its usual pattern of posting its Bitcoin holdings chart and then disclosing weekly purchases. Saylor had previously posted the same chart with the message, “We’re gonna need another color,” but a filing released the following day showed no additional purchase.
Strategy’s latest filing with the US Securities and Exchange Commission showed it held 843,775 BTC as of July 26. The company spent a total of $63.69 billion to acquire those holdings at an average price of $75,476 per Bitcoin. With Bitcoin trading at about $63,200, the stake is now valued at roughly $53.3 billion, or about $10.4 billion less than its purchase cost.
The company last announced a Bitcoin purchase on June 22, when it bought 520 BTC for $34.9 million.
From June 29 to July 5, Strategy sold 3,588 BTC for about $216 million to fund preferred stock dividends and bolster its dollar reserves. The company then issued additional common shares, raised its dollar holdings to $3.75 billion and began repurchasing STRC preferred shares.
Separately, Strategy said it would keep the annualized dividend rate on STRC preferred stock at 12%. The company said it plans to maintain the current rate until STRC trades steadily near its $100 par value.
