Michael Saylor’s Strategy Returns to Buying With $370M Bitcoin — Is Price Breakout Coming?

Key Takeaways

• Strategy bought 4,603 Bitcoin for $369.7 million, ending 10 consecutive reporting weeks without a BTC acquisition.

• It comes after Michael Saylor's cryptic "we're back" post sparked debate.

• Bitcoin could retest $80,000 if it holds above $77,000, although analysts say favorable Federal Reserve signals are still needed to confirm a breakout.

Michael Saylor's Strategy has resumed buying Bitcoin after a 10-week pause, adding $369.7 million in BTC as it attempts to reclaim $80,000.

The purchase followed Saylor's cryptic "We're back" post, which divided observers over whether the executive chairman was teasing a new acquisition.

While the subsequent announcement settled the purchase question, Bitcoin's latest price moves are sparking debate over whether institutional confidence will translate into a sustained breakout above $80,000.

Strategy Buys Bitcoin Again After 10-Week Pause

Strategy disclosed in an SEC filing that it purchased 4,603 Bitcoin for $369.7 million between Aug. 24 and Aug. 30.

The company paid an average of $80,318 for each coin, taking its total holdings to 845,050 BTC.

The acquisition ended 10 consecutive reporting weeks without a purchase.

Strategy's previous addition came during the week ending June 14, when it spent $100 million on 1,587 BTC.