It seems that after just a short breather, Strategy may be diving back into Bitcoin buying. Over the weekend, Michael Saylor, a well-known Bitcoin proponent, posted an update on X featuring a Bitcoin tracker. This kind of post from Saylor usually precedes an announcement of a new Bitcoin acquisition.

I don’t think this reflects what I got done last week. pic.twitter.com/57Qe7QfwKm

— Michael Saylor⚡️ (@saylor) February 23, 2025

Saylor’s tweet comes on the heels of Strategy’s Wednesday announcement about a significant $2 billion offering of convertible senior notes. These notes, set to mature in 2030, won’t accrue interest and are intended to generate funds for general business operations, notably including the purchase of more Bitcoin.

Strategy, previously known as MicroStrategy, and based in Tysons, Virginia, is already holding a substantial 478,740 Bitcoins. At current market values, this crypto stash is worth around $46 billion. Their most recent Bitcoin acquisition, adding 7,633 BTC, took place in the week ending February 9th, at an average price of $97,255 each.

Having recently sold off some Class A common stock, Strategy still has roughly $4 billion worth of shares they could sell. The company often uses the proceeds from these stock sales to fund their next Bitcoin investments.

Strategy’s total investment in Bitcoin to date is approximately $31 billion, with an average purchase price of $65,000 per Bitcoin. This strategic move has resulted in nearly $15 billion in unrealized gains for the company.

This past week saw Bitcoin prices fluctuate. It briefly hit $99,000 on Friday before dipping back below $95,000. This pullback followed reports of a $1.4 billion hack targeting the crypto exchange Bybit, according to data from CoinGecko data.

Currently, Bitcoin is trading around $95,700, indicating a slight decrease over the last day.