Michael Saylor Hints at Renewed Bitcoin Accumulation Strategy
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Co-founder of Strategy, Michael Saylor, has recently indicated that the company may restart its weekly Bitcoin acquisitions after a brief pause in its buying activities.
Saylor hinted at this possible resumption in a post on X, where he shared a StrategyTracker chart along with the phrase “Back to Work.” This phrase has been a familiar precursor to announcements about new Bitcoin purchases. His message comes shortly after the company took a week off from its regular buying schedule for the first time this year.
The last significant purchase took place on March 23 when Strategy spent around $77 million on Bitcoin, acquiring approximately 1,035 BTC at a price of $74,326 each. The interruption in their buying streak was noted, but it appears that the firm is now gearing up to return to its previous rate of acquisitions.
Funding for these acquisitions primarily relies on the firm’s perpetual preferred stock offering known as Stretch (STRC). This financial instrument is designed to maintain a value close to $100, with monthly adjustments to its dividends. The company issues new STRC shares, and the capital raised is then utilized to bolster its Bitcoin reserves.
According to estimates from STRC.LIVE, Strategy may already be poised for a significant new purchase, with projections indicating the potential for an acquisition of at least 1,821 BTC in the upcoming week, based on funds raised through April 3.
In addition, the firm has outlined plans to raise a substantial total of $44.1 billion, primarily through the sale of its common MSTR shares and further issuance of STRC shares. These strategies demonstrate Strategy’s commitment to expanding its Bitcoin holdings.
As of now, the company holds a total of 762,099 BTC, with an average acquisition cost of $75,694 per coin. With Bitcoin’s current trading price around $69,100, the firm’s overall position is presently under its aggregate entry price.
In summary, the anticipated resumption of weekly Bitcoin purchases by Strategy could mark a significant moment for the firm as it aims to enhance its already substantial holdings in the cryptocurrency market.
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