MicroStrategy Signals Potential Resumption of Bitcoin Purchases

MicroStrategy’s chief executive Michael Saylor posted a two‑word update – “We’re back” – after a ten‑week period with no Bitcoin purchases. Traders view the statement as a signal that the company may restart buying Bitcoin, based on three recent financial shifts.

Debt no longer limits Bitcoin buying

The firm holds roughly $6.69 billion in cash and has about $6.71 billion of convertible‑note debt, leaving net leverage at 0.1 %. The cash reserve now exceeds the debt, eliminating the previous leverage gap that had pressured the stock.

Preferred shares (STRC) approaching target price

MicroStrategy’s 12 % dividend‑paying preferred shares (STRC) aim to trade at $100. They closed at $97.33, up from a 12‑month low of $71.25. The company plans to repurchase STRC if it trades below $100, diverting funds that might otherwise be used for Bitcoin.

Potential restart of Bitcoin purchases

Saylor paired his post with a chart showing 840,447 Bitcoin, valued at $65.72 billion. While no formal filing was made, Bitcoin purchases appear in weekly reports, with the next report due on August 31. Bitcoin is trading near $79,200, slightly above the company’s average purchase price of $75,388.

Key financial figures

• Cash reserve: $5.10 billion (up from $3.75 billion in July)
• Convertible‑note debt: $6.71 billion
• Net leverage: 0.1 %
• STRC price: $97.33 (target $99‑$100)
• STRC dividends paid Q2: $400.7 million
• Bitcoin holdings: 840,447 BTC (~$65.7 billion)