Strategy to resume weekly Bitcoin buys, Michael Saylor hints
Michael Saylor posted Back to Work on X on April 5, indicating Strategy will restart weekly Bitcoin purchases after a one-week pause; the firm last bought about $77 million of BTC on March 23.
Strategy appears set to restart weekly Bitcoin purchases following a one-week pause after co-founder and executive chairman Michael Saylor posted “Back to Work” on X on Sunday. The company last acquired roughly $77 million of Bitcoin on March 23 and reports total holdings of 762,099 BTC at an average cost of $75,694 per coin.
The March 23 purchase was executed at an average price of $74,326 per bitcoin. The company then skipped its weekly buy for the first time this year. Saylor’s latest post included a “StrategyTracker” chart.
Strategy has been financing Bitcoin acquisitions through capital markets, including sales of common stock and a perpetual preferred stock program called Stretch (STRC). The security is structured to hover near its $100 par value with dividends that reset monthly. Proceeds from new issuance are directed to Bitcoin accumulation.
On April 6, Bitcoin price topped $69,000, below the firm’s disclosed average purchase price. Saylor has used the “Back to Work” phrase ahead of past purchase disclosures, and the company had been buying weekly this year until last week’s pause.
The material on GNcrypto is intended solely for informational use and must not be regarded as financial advice. We make every effort to keep the content accurate and current, but we cannot warrant its precision, completeness, or reliability. GNcrypto does not take responsibility for any mistakes, omissions, or financial losses resulting from reliance on this information. Any actions you take based on this content are done at your own risk. Always conduct independent research and seek guidance from a qualified specialist. For further details, please review our Terms, Privacy Policy and Disclaimers.
Articles by this author
