Strategy hints at resuming Bitcoin purchases… signal of a return to “weekly buying”

Strategy, the Bitcoin (BTC) holding company led by Michael Saylor, has hinted it may resume its weekly buying strategy.

According to Cointelegraph on the 6th (local time), Saylor posted a Strategy tracker chart on X the previous day along with the phrase “Back to Work.” As he has typically made similar posts ahead of announcing Bitcoin purchases, the market is interpreting it as a signal that buying may resume.

Strategy halted purchases for about a week in late March, marking the first break this year in its weekly buying streak. The last purchase was on March 23, when it bought about $77 million worth of Bitcoin at $74,326 per coin.

Funds for Bitcoin purchases are mainly raised through the issuance of perpetual preferred stock “Stretch (STRC).” The stock is designed to trade around a $100 par value, with a monthly dividend adjustment mechanism applied.

The company uses funds secured through new STRC issuance to buy Bitcoin. According to estimates by STRC.LIVE, based on funds raised as of April 3, additional purchases of at least 1,821 BTC could be possible.

Strategy has also recently announced a $44.1 billion fundraising plan to expand its Bitcoin purchases. The funds are set to be raised through the issuance of common stock (MSTR) and STRC.

Strategy currently holds a total of 762,099 BTC, with an average purchase price of about $75,694. At the current price of around $69,000, it is sitting on an unrealized loss.

Still, Bitcoin has rebounded recently, rising about 1.2% over the past month. Year to date, it remains down about 20% amid geopolitical risks and macroeconomic uncertainty.