Saylor's Bitcoin Buying Spree Continues Despite $84 Million Loss

Michael Saylor, executive chairman of Strategy (NASDAQ: MSTR), has acquired more Bitcoin despite sitting on significant crypto losses this summer. Saylor sold 6,916 BTC for approximately $429.35 million at an average price of $62,081 over the past two months and bought back 4,603 BTC for about $369.7 million at an average price of $80,318.

The transaction prices suggest that Saylor is sitting on roughly $84 million in losses between late July and August 31. Despite this, Strategy's stock rose in early trading today after the company resumed its Bitcoin purchases following a ten-week pause.

Saylor emphasized his strategy remains unchanged, saying 'Strategy has acquired 4,603 BTC for $370M, increased USD Cash by $29M, and repurchased $152M of STRC.' Strategy now holds 845,050 BTC, worth approximately $65.7 billion at the current Bitcoin price.