Michael Saylor has hinted at another Bitcoin purchase by his company, Strategy, just as its preferred security STRC reclaimed its par value of $100 over the past week. The company had used proceeds from selling the stock earlier in the year to fund Bitcoin purchases before the stock lost its par value amid the crypto bear market.
Saylor Hints at Another Bitcoin Purchase
In a post on X, the Strategy co-founder suggested that his company had made another Bitcoin purchase over the past week. He posted the company's Bitcoin portfolio tracker with the caption, "Connecting the dots."
Such posts have typically preceded a Bitcoin purchase announcement the following day, when the company files its Form 8-K with the SEC. A potential purchase over the past week would mark the second consecutive weekly purchase, even as its recent Bitcoin acquisition remains unstable.
Strategy bought about $65 million worth of Bitcoin two weeks ago. In recent times, the company has focused on repurchasing the STRC stock, which it used to fuel Bitcoin purchases earlier in the year just before the stock lost its par value of $100.
These buybacks have paid off as STRC reclaimed its par value over the past week, rising from as low as around $74, its 2026 low. Meanwhile, STRC stockholders recently approved daily dividends, which began on November 1.
MSTR Stock On Another Downtrend
The Strategy stock has been on a downtrend over the past month as Bitcoin retraces from its recent high above $80,000. MSTR is down more than 18% over the past month, according to TradingView data.
Thanks to its decline over the past two months, the stock is also back in the red this year, down more than 48% year-to-date. However, it is still up around 27% over the past three months, around the time Bitcoin first rallied from its low around $60,000.
Bitcoin and the broader crypto market remain under pressure due to the U.S.-Iran war, with concerns that the war could restart following the midterm elections. The market is also concerned about the midterm election results, fearing that Democrats, who swept Congress, could rein in the AI industry. Bitcoin and other crypto assets crashed last week as the U.S. stock market suffered one of its largest intraday losses.
