Michael Saylor’s Company Resumes Bitcoin Purchases with a $369.7 Million Investment
Michael Saylor's company, Strategy (MSTR), has resumed buying Bitcoin after a ten-week pause, acquiring 4,603 BTC for $369.7 million at an average price of $80,318 per coin. The purchase was funded by the sale of approximately 4.53 million MSTR shares and brings its total holdings to over 845,050 Bitcoin. This move follows Saylor's cryptic social media post stating 'We're back,' which generated speculation about a new acquisition. Bitcoin is currently trading around $78,600 after the purchase announcement. Technical analysis suggests that if BTC holds above $76,800–$77,000 support levels, it could retest resistance at $80,000 to $81,500. However, analysts caution that a breakout may depend on favorable Federal Reserve signals and weaker-than-expected U.S. jobs data scheduled for September 4. The company's latest acquisition has raised questions about whether institutional confidence will lead to sustained price growth above the key resistance level of $80,000.
Tickers: $MSTR
Topics: Bitcoin institutional buying Michael Saylor SEC filing Strategy Investments