Michael Saylor’s latest “We’re ₿ack” tease on August 30 suggests Strategy (formerly MicroStrategy) is resuming Bitcoin purchases after selling 6,916 BTC earlier in 2026. The firm now holds 840,447 BTC, valued at approximately $65.72 billion, with an average cost of $75,653 per coin and $2.13 billion in unrealized gains. However, the recent rally—Bitcoin trading at $78,128, up 23% in a month—lacks spot-market demand, as flat Cumulative Volume Delta indicates leveraged traders may be driving the move. Meanwhile, Wintermute transferred 5,100 BTC ($399 million) to Binance, raising potential sell-side pressure.
Michael Saylor posted on X on August 30 with his characteristic “orange dot” tease, writing “We’re ₿ack.” The attached tracker shows Strategy has conducted 113 Bitcoin purchase events, with an average buying cost of $75,653 per BTC.
The firm’s holdings are currently 3.36% above its aggregate cost basis, representing roughly $2.13 billion in unrealized appreciation. Strategy holds 840,447 BTC, valued at approximately $65.72 billion, according to the tracker.
This comes after Strategy sold 6,916 BTC earlier in 2026. The company recently raised $2.0065 billion by selling 18.26 million MSTR shares through its at-the-market program between August 17 and 23.
MSTR stock traded at $127.31, down 7.34% on the day, with a year-to-date drop of 16.22%. Bitcoin was trading at $78,128.46 at press time, up over 23% in the past month.
Despite the price hike, spot Cumulative Volume Delta has remained almost flat, indicating that spot traders are not aggressively buying. This suggests leveraged traders in futures and perpetual markets may be driving the rally.
Adding to market concerns, Wintermute transferred around 5,100 BTC worth approximately $399 million to Binance over the past two days. The transfer could increase sell-side supply, though it may also represent routine liquidity rebalancing.
