Strategy resumes Bitcoin purchases after 10-week pause

Michael Saylor wants you to know the shopping spree is back on. The Strategy executive chairman posted “We’re ₿ack” on August 30, breaking a 10-week silence on Bitcoin acquisitions. Strategy’s last reported Bitcoin purchase landed on June 22, kicking off a pause that coincided with some unusual activity for a company that has essentially built its entire identity around accumulating BTC. During the hiatus, the company sold roughly 3,588 BTC in July to fund dividend obligations and shore up its dollar reserves. It also offloaded additional amounts in early August.

The broader math still tilts heavily in one direction: net purchases for the year sit at approximately 175,000 BTC against roughly 7,000 BTC sold.

The numbers behind the war chest

As of late August, Strategy reported holding approximately 840,447 BTC. That stack was acquired at an average cost of about $75,385 per coin, putting the total investment around $63.36B. The company now controls roughly 4% of all Bitcoin that will ever exist.

With Bitcoin trading near $79,000, that position is currently sitting in profit territory. A $79K price on 840,447 BTC values the holdings at roughly $66.4B against the $63.36B cost basis.

The company also used the pause to construct a $1.59B cash pool, giving it a liquidity cushion that makes future purchases less dependent on favorable market timing.

Why the pause mattered

Saylor has a well-documented habit of using Sunday social media posts to telegraph upcoming 8-K filings with the SEC, which typically detail Bitcoin transactions. The 10-week gap between signals was the longest dry spell since Strategy began its Bitcoin acquisition strategy.

During the pause, the company raised capital through equity issuances and used BTC sales to cover operational costs, including dividend payments that come with the preferred stock it issued earlier in the year.

Saylor clarified that Strategy maintains a “net accumulator” posture toward Bitcoin and aims to avoid becoming a net seller.

Strategy’s average cost basis of $75,385 means a sustained drop below that level would put the entire portfolio underwater, potentially triggering margin calls on its debt instruments or forcing additional sales. At $79K, there’s roughly a 5% cushion on a position worth approximately $66.4B.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.