MicroStrategy Halts Bitcoin Buys Again, Focuses on Stock Repurchases

MicroStrategy, an enterprise software company that has aggressively bought Bitcoin since 2020, has halted its BTC purchases once again. This decision comes just one week after the company resumed buying Bitcoin following a 10-week hiatus.

The firm's founder and chairman, Michael Saylor, announced on Tuesday that MicroStrategy would instead focus on repurchasing its own stock, with $176 million spent on STRC shares. The company also increased the size of its digital credit securities repurchase program from $1 billion to $2 billion.

MicroStrategy still holds 845,050 Bitcoins worth over $66 billion at today's prices and $6.5 billion in dollar reserves. These Bitcoins were purchased at an average price of $63.73 billion.