Michael Saylor, Executive Chairman of Strategy Inc., stirred fresh speculation about the company’s bitcoin plans by sharing a new acquisition chart accompanied by the message, “We’re gonna need another color.” The visual, posted on July 26, highlights Strategy’s bitcoin purchases since 2020 with numerous orange markers, representing 843,775 BTC accumulated over 113 transactions.
The total bitcoin holdings stand at roughly $54.36 billion, based on an average buy-in price of $75,653 per bitcoin, reflecting an unrealized loss near $9.47 billion. This update comes after Strategy’s recent disclosure of raising $263.5 million via stock sales without adding to their bitcoin stash, prompting debate on whether the company will continue accumulating BTC.
Strategy’s Cash Reserve and Stock Selling Capacity
Between July 13 and 19, Strategy sold over 2.7 million shares of its common stock, boosting its cash reserve to $3.225 billion. This move indicates the company’s approach to prioritize cash reserves alongside bitcoin holdings, rather than immediately deploying capital into bitcoin purchases. According to a July 20 filing with the SEC, Strategy still has authorization to sell up to $23.53 billion in shares through at-the-market offerings, giving it significant flexibility to raise further capital in the future.
Previously, Strategy noted that a $3 billion cash buffer ensured more than 20 months of dividend coverage. The recent increase extends this coverage to approximately 1.8 years, reinforcing the company’s financial stability amid market fluctuations.
While Saylor’s chart posts often precede treasury updates and fuel investor anticipation of new bitcoin acquisitions, the latest filing shows no fresh purchases yet, keeping the market guessing about Strategy’s next move.
