Strategy chairman Michael Saylor signaled over the weekend that the company is poised to announce another Bitcoin purchase, reigniting speculation about the treasury firm’s next move in the crypto markets.
Saylor posted “Working Better” on X late Sunday, accompanying a bubble chart from StrategyTracker.com that tracks the company’s Bitcoin acquisitions over nearly six years. The post follows a familiar pattern — Saylor has consistently used similar teasers in the days leading up to official purchase announcements.
This signal lands at a critical moment for the largest publicly traded Bitcoin holder. Strategy currently holds 843,738 BTC, acquired at an average cost of $75,701 per coin. With Bitcoin trading around $73,566, the company’s holdings are slightly underwater on a cost basis, though the long-term thesis remains intact.
## Markets Watch for Strategy’s Next Move
The timing matters. Bitcoin has lost 3.65% of its value during May, and spot Bitcoin ETFs logged a record 10-day outflow streak totaling nearly $3 billion. Against this backdrop, a fresh Strategy purchase could signal institutional conviction that the broader market views as bullish.
The company recently paused its Bitcoin buying spree, with no purchases announced since mid-May. Saylor’s teaser suggests the pause is ending.
A proxy vote is expected soon that depends heavily on retail shareholders approving semi-monthly dividend payouts on the company’s STRC perpetual preferred stock. Fresh BTC purchases would likely reflect that the company bought at or below its average cost basis — a strategy Saylor has consistently deployed.
## Institutional Signal Amid Market Uncertainty
Strategy’s continued accumulation stands in contrast to broader institutional trends. BlackRock’s IBIT saw a massive $1.26 billion single-day exit, which analysts attribute to a large investor rapidly exiting rather than a coordinated basis trade unwind. NYDIG rejected the basis-trade theory, citing the large discount and absence of unusual CME Bitcoin futures volume spikes.
Saylor’s signal suggests the company views current prices as attractive entry points despite the macro uncertainty. Strategy has never sold a single Bitcoin since beginning its accumulation strategy in 2020, and Saylor has repeatedly stated the company intends to hold forever.
The next official announcement could come within days based on historical patterns between Saylor’s teaser posts and formal filings.
## FAQ
**How much Bitcoin does Strategy currently hold?**
Strategy owns 843,738 BTC, acquired at an average price of $75,701 per coin, making it the largest publicly traded corporate Bitcoin holder.
**Did Strategy ever sell any Bitcoin?**
No. Despite market volatility and the company’s holdings being temporarily underwater, Strategy has never sold a single Bitcoin since it began accumulating in 2020.
**What happens to Strategy if Bitcoin prices continue falling?**
The company has structured its treasury operations to withstand significant price declines. With semi-monthly dividend payouts pending shareholder approval and no debt-based liquidation triggers, Strategy’s Bitcoin holdings are positioned as long-term strategic assets.
