MicroStrategy Halted Bitcoin Buys Again Amid Stock Repurchases

MicroStrategy, an enterprise software company listed on Nasdaq, has halted its bitcoin buying strategy once again. This decision comes just one week after the firm resumed its purchases following a 10-week hiatus.

The company opted to continue repurchasing its stock instead, buying back $176 million worth of STRC and increasing its digital credit securities repurchase program from $1 billion to $2 billion, as per Tuesday's regulatory filing and announcement from founder and chairman Michael Saylor.

MicroStrategy still holds 845,050 bitcoins valued at over $66 billion at today's prices and $6.5 billion in dollar reserves. The average price of the purchased BTC is around $63.73 billion, according to Tuesday's filing.