Saylor's Strategy Makes Strategic Bitcoin Buyback

Michael Saylor's Strategy Inc. has made its first purchase of Bitcoin since August, acquiring $75.7 million worth of the cryptocurrency in a move aimed at rebuilding investor confidence.

The original Bitcoin treasury company, co-founded and run by Saylor, also repurchased $174 million of its STRC perpetual preferred shares as part of its efforts to lift the price above par and enable future Bitcoin purchases.

Cash was used to fund both transactions, with Strategy noting that the preferred trade is currently valued at just below $99.