Strategy's 840,447 BTC stash is now worth roughly $2.8 billion more than the firm paid for it, after a Bitcoin rally pushed the position back into the green. Michael Saylor marked the turnaround with a short post on X, and the timing has traders wondering if a new purchase is coming.
Bitcoin's climb to around $79,007 on Sunday, up 1% on the day per CoinGecko, pushed the value of Strategy's 840,447 BTC to roughly $66.4 billion. That marks about a 4.4% gain over the firm's average purchase price of $75,653, putting the position more than $2.8 billion in the green.
Saylor teases a possible buy
Early Sunday morning, Saylor shared a chart of the holdings on X. According to Decrypt: "We're Back", he wrote alongside the chart. The post has stoked speculation that Strategy is preparing to resume buying, since the company typically discloses its weekly Bitcoin purchases on Monday mornings and Saylor's charts have historically served as a teaser ahead of those announcements. Strategy hasn't added to its holdings in about two months, a notable pause for a firm that spent years accumulating aggressively under Saylor's never-sell approach.
From billions underwater to back in profit
A five-day rally earlier flipped Strategy's holdings from roughly $13 billion underwater in July, when Bitcoin sagged toward $58,000, back into profit. The recovery has tracked Bitcoin's broader climb from about $62,000 to the high $70,000s this month, a run fueled by heavy spot Bitcoin ETF inflows and a softer dollar.
A strategic shift away from buy-and-hold
That restraint reflects a strategic shift. Strategy recently raised $334 million by selling MSTR stock without touching its Bitcoin, part of a broader move toward what it calls a capital-management framework. The company has even sold small amounts of Bitcoin in recent months to fund preferred dividends and buybacks, a departure from its buy-and-hold gospel.
Any renewed buying would come against a choppy backdrop. Bitcoin slid as low as $76,877 on Friday after Federal Reserve Chair Kevin Warsh warned that inflation isn't cooling fast enough, remarks that pushed September rate-hike odds sharply higher.
Bitcoin remains well below its October record near $126,000, leaving Strategy's gains modest against the peak. Saylor did not indicate in the post whether a purchase was imminent.
Source: Decrypt
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