Michael Saylor stirred the market with a Sunday post showing his company’s Bitcoin buying chart tagged “Bitcoin Drive engaged.” Investors quickly interpreted this as a hint that the firm could resume buying BTC after a five-week break. Known for its consistent accumulation, the company’s pause has been unusual, especially after Saylor’s recent cryptic message, “We’re gonna need another color,” and their confirmation of no new purchases on July 27.
According to the latest SEC filing, the company holds 843,775 Bitcoins, acquired at an average price of $75,476 each, totaling nearly $63.7 billion in cost. With Bitcoin currently trading around $63,200, the portfolio’s valuation stands near $53.3 billion, marking an unrealized loss of about $10.4 billion. The last purchase took place on June 22, with 520 BTC added for roughly $34.9 million, while between June 29 and July 5 the company sold 3,588 BTC to raise $216 million in cash. These funds were used to cover preferred stock payments and boost dollar reserves.
In recent weeks, rather than buying more Bitcoin, the company has focused on building dollar liquidity, increasing reserves to $3.75 billion through common stock sales and launching a buyback program for STRC shares. These moves have garnered positive remarks from analysts at TD Cowen and Benchmark, signaling strategic financial management amid volatility. Market watchers are now keenly awaiting Monday’s announcement, expecting confirmation on whether the firm will re-engage in Bitcoin accumulation.
This material is for informational purposes only and does not constitute financial advice.
