Michael Saylor has once again set the Bitcoin market abuzz, signaling that Strategy (formerly MicroStrategy) is poised to resume its aggressive BTC accumulation. On May 10, Saylor posted “Back to work, $BTC” on X alongside the company’s signature “Orange Dots” chart, a move that has historically preceded a formal purchase announcement. The post came just days after Strategy’s Q1 2025 earnings call on May 5, during which the company paused its weekly buying streak.
During that earnings call, Saylor’s forward-looking language was interpreted by market watchers as a clear signal of intent, even as the company posted a wider quarterly loss amid a Bitcoin price slump. No specific purchase amount or timeline was disclosed, but the tone matched past patterns. Reuters noted that the firm’s conviction in accumulating more BTC remained unshaken. The most recent buy before the pause occurred on April 27, when Strategy acquired 3,273 BTC for roughly $255 million at an average price of $77,906, bringing total holdings to 818,334 BTC—worth approximately $66.15 billion at current prices, with an average cost basis of $75,537.
The Q1 call also introduced a notable pivot: Saylor said the company would “probably sell some Bitcoin to fund a dividend, just to inoculate the market,” departing from its long-standing never-sell stance. CEO Phong Le downplayed market impact, pointing out that Bitcoin’s daily trading volume exceeds $60 billion, while the annual dividend obligations tied to credit products are around $1.5 billion. “I don’t think we’re driving the price up or down,” Le told CNBC. Community reaction was mixed, with some investors arguing that occasional sales could finance future purchases, while others warned of a potential “doom loop” of downward price pressure.
As of now, no official purchase has been confirmed. The market will watch for an 8-K filing with the SEC or a direct announcement from Strategy’s press page. For Bitcoin enthusiasts, Saylor’s latest tweet is a strong hint that the corporate treasury playbook remains in full effect.
