Michael Saylor Shouts 'We're Back!' – Is MicroStrategy Ready to Buy More Bitcoin?

Michael Saylor, Executive Chairman of MicroStrategy (MSTR-US), posted a three-word message 'We're Back' on the X platform on Sunday (30th), accompanied by a chart showing the company's Bitcoin accumulation with 'orange dots.' The market is speculating that MicroStrategy may restart its Bitcoin purchasing strategy.

In the past, such weekend posts have often signaled a Monday announcement of new Bitcoin purchases. As the world's largest corporate holder of Bitcoin, the company had paused its aggressive 'buy, buy, buy' pace for over two months, and Saylor had become notably quiet and low-profile during this period. MicroStrategy's last reported Bitcoin purchase was on June 22.

Over the past two months, the company suspended purchases and broke its long-standing 'buy and never sell' principle, selling Bitcoin multiple times between May and August to strengthen its balance sheet, accumulate U.S. dollar cash, and address the crisis of its Bitcoin-backed STRC preferred shares falling below their $100 par value.

However, the company's financial situation has recently improved significantly: MicroStrategy now holds approximately $6.69 billion in cash, nearly matching its $6.71 billion in debt, reducing its net leverage ratio to 0.1%. Additionally, STRC preferred shares have rebounded to between $97 and $98, greatly reducing the financial burden associated with potential share buybacks.

Analysts point out that MicroStrategy now has sufficient cash to cover nearly four years of preferred dividend payments, meaning it no longer needs to sell Bitcoin to pay dividends in the short term. This increases the likelihood that newly raised funds will be directly used to accumulate more Bitcoin. MicroStrategy currently holds 840,447 Bitcoin. With Bitcoin rebounding to around $80,000 in late August,

the market is closely watching whether MicroStrategy will issue a new purchase report on Monday (31st), which would confirm whether the company has officially transitioned from a 'strengthening phase' into a new 'offensive phase.'