MicroStrategy Rekindles Bitcoin Buying Spree with $369M Purchase

MicroStrategy resumed its Bitcoin buying spree after a 10-week hiatus, purchasing 4,603 BTC for $369.7 million at an average price of $80,318 per coin.

The company's first major acquisition since late June followed weeks of speculation sparked by Executive Chairman Michael Saylor's 'We're ₿ack' post on X.

MicroStrategy acquired the coins between August 24 and August 30, according to a filing published Monday. The purchase was funded entirely through share sales, which raised $602.8 million in net proceeds.

The company sold 4,531,421 Class A shares across the week, increasing its dollar reserves by $29 million. It also repurchased 1,557,177 STRC preferred shares for $151.8 million and covered STRC dividends with $50.7 million.