TLDR:
- Michael Saylor hints Strategy may resume Bitcoin buying after a 10-week pause, but no purchase is confirmed.
- Strategy holds 840,447 BTC worth $63.36 billion at an average acquisition cost of $75,385 per Bitcoin.
- Strategy disclosed $6.69 billion in dollar liquidity, including $1.59 billion held in flexible USD Cash.
- Bitcoin near $79,000 has moved above Strategy’s $75,385 average cost after the company paused buying in June.
Michael Saylor has signaled that Strategy may be preparing to restart Bitcoin purchases after roughly 10 weeks without adding to its corporate treasury. The executive chairman posted “We’re ₿ack” on X on Sunday alongside the company’s acquisition chart, drawing attention to its recent buying pause.
However, the message was not a transaction announcement, and Strategy has not confirmed any change in its holdings. Bitcoin was trading near $79,000 as the post circulated, more than 2.5% above Friday’s low.
Strategy’s 10-Week Bitcoin Buying Pause Nears a Turning Point
A confirmed acquisition would mark Strategy’s first Bitcoin purchase since June 22, when the company bought 520 BTC for $34.9 million. That transaction carried an average price of $67,068 per coin and increased total holdings to 847,363 BTC.
The company subsequently reduced its position through four sales totaling 6,916 BTC. Those transactions included 1,363 BTC reported June 30 and another 2,225 BTC reported July 6. Strategy then sold 1,638 BTC on August 3 and another 1,690 BTC on August 10.
Together, those sales lowered the company’s holdings to 840,447 BTC. As of August 23, the company held 840,447 BTC acquired for approximately $63.36 billion. Its average purchase price stood at $75,385 per coin.
That position represents roughly 4% of Bitcoin’s fixed 21 million supply, keeping Strategy firmly established as the largest corporate holder. Meanwhile, the company spent recent weeks strengthening dollar liquidity instead of expanding its cryptocurrency position.
On August 24, it disclosed total dollar liquidity of $6.69 billion. That amount included a $5.10 billion USD Reserve and a separate $1.59 billion USD Cash account. However, the two pools serve different purposes.
The USD Reserve is designated for preferred-stock dividends and interest payments. In contrast, USD Cash can support acquisitions, share repurchases, convertible-note obligations, or other treasury requirements.
$6.69B Liquidity Gives Strategy Greater Buying Flexibility
Strategy built much of that liquidity through equity sales rather than cryptocurrency disposals during the latest reporting week. Between August 17 and August 23, it sold 18.26 million MSTR shares.
Those sales generated about $2.01 billion in net proceeds. The company allocated $136.4 million toward STRC preferred-stock repurchases and added another $300 million to its USD Reserve.
The remaining proceeds were transferred into USD Cash, while no Bitcoin transaction occurred during the week. Consequently, the company entered late August with greater financial flexibility.
The market backdrop has also changed since Strategy’s most recent acquisition. Bitcoin’s recovery toward $79,000 has pushed its price above the company’s $75,385 average acquisition cost.
Nevertheless, the wider corporate treasury sector has faced heavier pressure. The 50 largest Bitcoin treasury companies fell from about $150 billion in July 2025 to $67 billion this month.
For Strategy, therefore, another purchase would clarify the purpose of its 10-week pause. Recent disclosures show that management prioritized liquidity, debt obligations, and capital management during that period.
Saylor’s “We’re ₿ack” message has now renewed attention on the company’s next move. Still, only Strategy’s next regulatory disclosure can confirm whether Bitcoin accumulation has officially resumed.
