Following Michael Saylor's "Time to add dots" post on X, speculation began that Strategy might soon be buying Bitcoin again. He had previously posted something similar in mid-May, after which the company announced the purchase of 24,869 BTC, a transaction worth approximately $2 billion.
Management sends another signal
Strategy CEO Phong Le subsequently stated that the company's strategy remains focused on increasing net Bitcoin holdings per share, and that other rumors are unfounded. This response further fueled market expectations for a new round of buying, but the company has not yet disclosed any official transaction documents.
The market value of the holdings is lower than the cumulative cost.
According to reports, Strategy currently holds 843,706 BTC, representing approximately 4% of the total Bitcoin supply. At current prices, this asset is worth approximately $52 billion, lower than the cumulative purchase cost of approximately $63.87 billion.
With an average purchase price of approximately $75,702 per coin, the company's unrealized losses have approached $12 billion since Bitcoin's price fell from its high of around $97,000. Market focus has therefore shifted to whether the company will continue to increase its holdings during this price pullback.
STRC did not generate any new Bitcoin.
The report noted that Strategy's key debt instrument, STRC, has not generated any new Bitcoin in the past week. This suggests that if the company does intend to continue buying, its funding sources may no longer rely primarily on this instrument.
Currently, STRC is trading at approximately $93.17, with a yield of approximately 12.34%. Based on this, the market speculates that Strategy may turn to other financing methods, including issuing other types of bonds or directly utilizing its cash reserves.
Additional information:As of the time of this report, external assessments of the new round of buying are primarily based on Saylor's social media posts and management responses, with no official announcement confirming the specific transaction size and timing.
