Summary
- Strategy, the world’s largest corporate holder of Bitcoin, has signaled it may resume Bitcoin purchases after nearly two months.
- Strategy said it raised about $2 billion through MSTR sales and began repurchasing STRC, its perpetual preferred stock, while also building its dollar reserves.
- With enough cash to cover about four years of preferred dividend payments, future fundraising could be used for Bitcoin purchases and STRC buybacks, the report said.
Forecast Trend Report by Period
Strategy, the world’s largest corporate holder of Bitcoin, has signaled it may resume purchases of the cryptocurrency after nearly two months.
CoinDesk reported on August 30 that Strategy Chairman Michael Saylor posted a chart on X showing the company’s Bitcoin holdings with the message, “We’re Back.” Markets interpreted the post as a sign that Strategy may have bought additional Bitcoin for the first time since June 22, though the size of any purchase has not been disclosed.
Saylor’s post came with Bitcoin trading near $79,000. The token has gained about 1% over the past 24 hours and rebounded more than 2.5% from the low reached after Federal Reserve Chair Kevin Warsh’s hawkish Jackson Hole speech on August 28.
Strategy has been strengthening its balance sheet since May by selling part of its Bitcoin holdings. More recently, it halted those sales and instead raised about $2 billion by selling its common stock, MSTR. The company used the proceeds to bolster its dollar reserves and began repurchasing its perpetual preferred stock, STRC.
Strategy’s improved financial capacity has also supported the case for renewed Bitcoin buying. The company currently has enough cash to cover about four years of preferred dividend payments. That means future fundraising could be directed toward Bitcoin purchases and STRC buybacks rather than further additions to dollar reserves.
STRC climbed as high as $98 intraday on August 28. Strategy is expected to continue repurchasing the shares to bring the stock back toward its $100 reference price.
