Michael Saylor hinted at Strategy's first bitcoin purchase in two months as bitcoin neared $79,000, up almost 1% over the past 24 hours and rebounding from Friday's low.
First Purchase Hint Since June 22
Saylor's suggestion of an imminent Bitcoin purchase would mark Strategy's first acquisition since June 22, ending a two-month dry spell for the company formerly known as MicroStrategy. Strategy has been the largest corporate holder of Bitcoin, with its treasury position exceeding 600,000 BTC. The company's bitcoin strategy has made it a proxy for institutional Bitcoin exposure in traditional equity markets.
Bitcoin Recovery Supports Purchase Timing
Bitcoin's recovery from approximately $63,500 earlier in August to above $80,000 provided the backdrop for Saylor's hint. The rally was supported by $2.8 billion in ETF inflows across eight consecutive sessions, with falling futures open interest suggesting spot buying rather than leveraged speculation. Bitcoin traded near $78,000 on Aug. 31 after retreating from its three-month high above $81,200.
Strategy's Bitcoin Treasury Strategy
Strategy has used debt offerings, convertible notes and ATM equity programs to fund its Bitcoin purchases. The company's valuation has expanded alongside Bitcoin's price, with bitcoin dominance climbing above 60%. Previous purchases have typically followed Saylor's public hints on social media, with the company confirming acquisitions through SEC filings within days.
Market Implications
A new purchase would signal continued institutional confidence in Bitcoin despite recent ETF outflows. U.S. spot Bitcoin ETFs recorded $201.9 million in net withdrawals on Aug. 28, ending nine consecutive inflow sessions. Saylor's hint comes as the market tests whether ETF demand returns while funding remains contained, with a gradual recovery in open interest pointing to measured positioning rather than aggressive leverage.
