Strategy Inc. Executive Chairman Michael Saylor posted a two-word message on X on Sunday that has reignited expectations the company could return to accumulating bitcoin after a roughly two-month hiatus. Accompanied by a chart of the firm’s bitcoin position, the post read “We’re ₿ack.”

The company currently holds 840,447 bitcoin, acquired for a total of $63.36 billion at an average cost of $75,385 per coin including fees. At recent prices the reserve is valued near $65.72 billion. Strategy has not disclosed any bitcoin purchases or sales since the week ending August 23, leaving the holding unchanged for a second consecutive reporting period.

Cash Build-Up Precedes Potential Return to Buying

During the pause that began after the last confirmed purchase on June 22, Strategy shifted focus to balance-sheet management. It sold approximately $2.01 billion of common shares, lifted its restricted USD reserve to $5.10 billion, established a separate $1.59 billion USD cash account, and repurchased $136.4 million of its STRC preferred stock. Combined dollar liquidity now stands at $6.69 billion.

The new USD cash pool is available for bitcoin acquisitions, securities repurchases, debt repayment or further reserve increases, according to company disclosures. Earlier in the period Strategy also sold a total of 6,916 bitcoin across four transactions to support preferred-stock dividends and buybacks.

Bitcoin Price Recovery and Market Context

Bitcoin has climbed from around $65,000 on August 19 to levels near $79,000, briefly touching about $81,000 on August 27. The rebound has returned Strategy’s position to an unrealized gain of roughly $2.4 billion to $2.6 billion. Saylor’s Sunday posts have historically preceded formal purchase announcements the following day, prompting traders on prediction markets to assign high odds to a disclosure early in the week.

Strategy remains the largest publicly traded corporate holder of bitcoin, controlling approximately 4 percent of the fixed 21 million supply. Its next regulatory filing will confirm whether the cryptic message coincides with a change in holdings or signals another treasury action.

Preferred Stock and Capital Framework

Under its digital-credit capital framework the firm has prioritized building multi-year coverage for preferred dividends. With nearly four years of coverage now in place, any fresh capital is more likely to support bitcoin purchases or additional STRC buybacks than further expansion of dollar reserves. Preferred shares recently traded as high as $98, and the company continues to target a return toward $100 through repurchases.

Saylor has continued to frame bitcoin as a form of digital capital usable by individuals, companies and nations. Strategy’s next update will determine whether the latest post marks a return to active accumulation after the summer pause.