Strategy's Bitcoin Buying Plans Spark Market Speculation

Strategy, the company led by Michael Saylor, may be preparing to resume its buying spree in the Bitcoin market. In a recent post on X, Saylor shared a tracker chart with the message 'Back to work, BTC.' The move has been interpreted as a signal that the company is gearing up to make another significant purchase of the cryptocurrency.

The company's last big buy was on April 27, when it acquired 3,273 Bitcoin for approximately $255 million. This brought its total holdings to 818,334 Bitcoin, which account for about 4% of the total supply. The value of these holdings is estimated to be over $60 billion.

The possibility of selling some Bitcoin has also been raised after the company's latest earnings release. Saylor mentioned that Strategy could sell some Bitcoin to pay dividends, which would be a departure from its previous stance of not selling any assets. However, Chief Executive Officer Phong Le clarified that any sales would be limited and would only take place in specific circumstances, such as preferred dividend payments or tax planning.