MicroStrategy Skips Another Week of Bitcoin Buying
Strategy Inc., also known as MicroStrategy (NASDAQ:MSTR), made no purchases of Bitcoin (BTC) between last week, surprising investors who had anticipated a continued buying spree after its 'We're Back' post.
The company's CEO, Michael Saylor, skipped his usual weekend orange-dot post on X, which has historically preceded Monday treasury announcements.
Instead of investing in Bitcoin, Strategy repurchased 1.81 million shares of its STRC (NASDAQ:STRC) for $176.3 million using its USD cash balance. The company also doubled the authorized size of its digital credit securities repurchase program from $1 billion to $2 billion.
Strategy's Bitcoin holdings remain unchanged at 845,050 BTC, acquired for $63.73 billion at an average price of roughly $75,412 per coin.