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• On Sunday, Michael Saylor hinted at a potential Bitcoin purchase, posting “We’re ₿ack” after a 10-week accumulation pause.
• During the pause, the company focused on capital management, stock sales, and STRC buybacks.
• A fresh purchase would mark Strategy’s return to accumulation as Bitcoin trades near $78,000.

Strategy Inc (MSTR) Executive Chairman Michael Saylor dropped a new hint that the firm may be getting ready to restart buying Bitcoin (BTC), tweeting “We’re ₿ack,” after a 10-week hiatus.

As of Saylor’s post on Sunday, the firm’s Bitcoin purchase tracker showed total holdings of 840,447 BTC, worth $65.72 billion. The post did not include any purchase disclosure, but Saylor posting such charts has often preceded a Monday announcement of a fresh Bitcoin buy.

Strategy, the largest corporate BTC holder, currently has 840,447 BTC, down slightly from the 847,363 BTC it held in late June, after the sales during the pause.

MSTR stock closed down over 7% on Friday. On Stocktwits, the retail sentiment around MSTR remained in the ‘extremely bullish’ zone, while chatter around it stayed at ‘high’ levels over the past day.

A Drought Since Mid-June

The last time Strategy reported buying Bitcoin was on June 22, when the company said it purchased 520 BTC worth about $34.9 million at an average price of $67,068 per coin during the week of June 15 to June 21. The purchase, financed partly by the sale of $335.5 million of MSTR shares, was the company's smallest so far in 2026.

What Strategy Has Been Doing Instead

Instead of accumulating, Strategy spent the past 10 weeks on what CEO Phong Le called "active capital management."

The company sold Bitcoin in batches, including 1,690 BTC for $108.6 million earlier in August, using the proceeds to buy back 1.15 million shares of its STRC preferred stock. STRC is a variable-rate, perpetual "Stretch" preferred stock that Strategy uses to raise cash.

The company also raised cash by tapping its at-the-market stock-sale program repeatedly, most recently raising about $2.01 billion between August 17 and August 23, and raised the dividend on its "Stretch" preferred stock to 12 percent beginning July 1. 

That capital management drive boosted Strategy’s combined dollar liquidity to $6.69 billion, including a restricted USD reserve of $5.10 billion and USD cash of $1.59 billion.

What It Could Mean

If Saylor’s post leads to a new buy, it would be the longest stretch without a Bitcoin buy in 2026 and a step back toward accumulation for Strategy. This comes as the apex cryptocurrency gained more than 25% in August.

BTC’s price was up by 1%, trading at the $78,000 level over the past 24 hours. On Stocktwits, retail sentiment around BTC remained in the ‘bullish’ zone, while chatter stayed at ‘high’ levels over the past day.

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