Michael Saylor posted a tweet on Sunday hinting that Strategy has resumed Bitcoin purchases, its first buy signal in three weeks. The hint lands in the middle of an intense macro stretch that saw the CLARITY Act stall in the Senate and two central banks raise interest rates.
Michael Saylor, the driving force behind Strategy's Bitcoin accumulation strategy, posted on X on Sunday a graph charting the firm's purchases over the past six years, alongside the caption "A little more orange." The post reads as a signal that the company has resumed buying.
A three-week pause
Strategy's last confirmed purchase was announced on August 31, after being completed the week before at an average price of $80,318 per Bitcoin. The firm spent almost $370 million to acquire 4,603 BTC. That purchase followed a two-month pause during which the company had made a couple of sales at lower prices.
Since then, Strategy has stayed on the sidelines when it comes to Bitcoin buying. Instead, it turned its attention to repurchasing its STRC stock, whose price closed Friday at $98.51, just inches below its $100 par price after erasing almost all its losses from a drop to $75.
A tense week for macro
If Saylor's hint is accurate, Strategy would be resuming purchases during one of the most intense macro weeks for Bitcoin and the wider industry. On Tuesday, the US Senate voted against advancing the CLARITY Act. A day later, the Federal Reserve hiked interest rates for the first time in over three years.
On Friday, the Bank of Japan followed with its own rate hike, raising rates to a 31-year high.
Source: CryptoPotato
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