Strategy Hints at Major Bitcoin Purchase

Michael Saylor, executive chairman of Strategy, has signaled potential plans for another significant Bitcoin purchase, just days after the company disclosed acquiring 13,927 Bitcoin for approximately $1 billion in early April. The hint came via a Sunday post on X, where Saylor shared a chart of the firm's purchase history with the caption "Think Even Bigger," a tactic he has used previously to precede official announcements.

The recent transaction, detailed in a Securities and Exchange Commission filing last Monday, occurred between April 6 and 12 at an average price of $71,902 per coin. It was funded entirely through sales of the company's Variable Rate Series A Perpetual Stretch Preferred Stock, traded under the ticker STRC. This addition brought Strategy's total Bitcoin holdings to 780,897 coins, valued at about $58.2 billion, making it the largest corporate holder of the cryptocurrency among publicly traded companies.

Saylor's post has revived investor interest in Strategy's aggressive accumulation strategy, which includes regular weekly buys. Market observers noted the timing aligns with past patterns, where similar social media activity has foreshadowed disclosures. Some...