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.
The latest Bitcoin acquisition was funded by the sale of approximately 4.53 million MSTR shares, generating $602.8 million in net proceeds.
As of Aug. 30, the company held a $5.1 billion US dollar reserve and $1.61 billion in additional cash, bringing its total dollar assets to $6.71 billion.
Saylor said the moves had reduced Strategy’s net leverage to 0%.
Saylor’s ‘We’re Back’ Post Fuels Purchase Rumors
The announcement came one day after Saylor posted a StrategyTracker chart alongside the two-word message: “We’re back.”
Because Bitcoin had climbed back above that cost basis, some observers interpreted the message as a celebration of Strategy returning to an unrealized profit.
Others believed it was the latest in Saylor’s long-running series of social media hints preceding a Bitcoin purchase.
Popular X account Bitcoin Archive suggested the return could help revive retail and institutional buying interest.
Could Bitcoin Break Above $80,000?
Strategy’s second-quarter results showed the company held 843,775 BTC worth $54.77 billion as of July 26, following an $8.32 billion unrealized digital asset loss during the quarter.
Bitcoin was trading around $78,600, up approximately 0.6% over 24 hours, as Strategy announced its latest purchase.
CoinMarketCap’s analysis placed Bitcoin between support around $76,800–$77,000 and resistance extending from $80,000 to $81,500.
That relative strength supports the possibility of another attempt at $80,000.
If BTC maintains the $76,800–$77,000 region, CoinMarketCap identified $80,000 to $81,500 as the next major resistance area.
It warned that losing support could send BTC toward $74,000 or potentially $73,000, while the Sept. 4 jobs report may hinder another breakout attempt.
However, weaker data could reduce expectations for further monetary tightening and help BTC challenge resistance.
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
