Strategy Adds $370 Million Worth of Bitcoin to Treasury
Strategy has resumed buying Bitcoin after a brief pause, acquiring 4,603 BTC for $370 million. According to a Monday Form 8-K filing with the U.S. Securities and Exchange Commission, this transaction brings Strategy's total treasury to 845,050 BTC.
The average purchase price of $80,318 per Bitcoin was funded using net proceeds from a 602 million MSTR common stock sale. In addition to buying more Bitcoin, Strategy also allocated part of the funds to corporate cash and share repurchases.
This marks Strategy's first corporate Bitcoin acquisition since mid-June, when it purchased 1,587 BTC for roughly $100 million. The company has been signaling its intentions to continue accumulating Bitcoin through its preferred-share structure, which allows for funding mechanisms tied to preferred shares.