Bitcoin rose to near $79,000, up 2.5% from Friday’s low, after Federal Reserve Chair Kevin Warsh delivered a hawkish speech at Jackson Hole. Michael Saylor indicated that Strategy may have made its first bitcoin purchase since June 22.

Bitcoin dominance increased about 4% from its June low, signaling stronger performance against the broader crypto market.

Strategy, the software company formerly known as MicroStrategy, had been selling bitcoin holdings since May to bolster its balance sheet. The firm recently halted those sales, sold MSTR shares to raise dollar reserves, and began buying back its preferred stock, STRC. Saylor’s post on X reading "We’re Back" suggested a possible resumption of bitcoin purchases, though the company has not confirmed any transaction. Strategy’s preferred stock climbed to $98 on Friday, with the aim of returning the price to $100 through ongoing buybacks. The company’s preferred dividend coverage stands at nearly four years, indicating that new capital is likely to fund bitcoin acquisitions or further preferred‑stock repurchases rather than increase dollar reserves.

The market response highlights the impact of large corporate actions on bitcoin’s price, while the status of Strategy’s potential purchase remains unverified.