Strategy Inc. (NASDAQ:MSTR) Chair Michael Saylor indicated on Sunday that the firm could announce fresh Bitcoin (CRYPTO: BTC) purchases, following the cryptocurrency’s upward momentum last week.
Saylor Getting Orange-Pilled?
Saylor posted Strategy’s Bitcoin accumulation chart on X, where orange circles mark each purchase.
“A good time to add more dots," Saylor wrote. These weekend posts usually came before the purchase disclosures on the following Monday.
However, that hasn’t been the case lately. From late June through early August, Strategy halted new Bitcoin purchases and sold 6,916 BTC to bolster its cash reserves.
Will the Lull End?
The company ended the two-month buying drought on Aug. 31, acquiring 4,603 BTC for $370 million at an average price of $80,382 per coin. However, no further acquisitions have been reported since.
As of this writing, Strategy holds 845,050 BTC, worth nearly $69 billion. The company has nearly $9 billion in unrealized losses on its Bitcoin holdings. The firm reported unrealized gains exceeding $5 billion on its BTC stash.
Bitcoin rose over 5% last week as the SEC’s push to build a regulatory framework for cryptocurrency, including tokenized U.S. stocks, outweighed the CLARITY Act’s failure.
Price Action: At the time of writing, BTC was exchanging hands at $81,275.32, up 1.13% in the last 24 hours, according to data from Benzinga Pro.
Strategy shares closed 16.39% higher at $153.92 during Friday’s regular trading session. According to Benzinga’s Edge Stock Rankings, the stock shows a stronger price trend in the short- and medium-term but lags over the long term.
See More: Top Momentum Stocks
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