Strategy Breaks 10-Week Bitcoin Buying Drought with $370M Purchase

Strategy Inc., one of the largest corporate holders of Bitcoin, has resumed buying the cryptocurrency after a 10-week pause. The company purchased nearly $370 million worth of Bitcoin in the week ended August 30th, according to Bloomberg.

This marks a renewed test of Strategy's financing model, which made Michael Saylor's company one of the biggest corporate holders of Bitcoin but came under strain during the recent crypto downturn. Strategy has historically relied on its equity valuation to fund expansion of its Bitcoin position, and the recent rebound in Bitcoin prices has made this mechanism more viable again.

The company has also raised $602.8 million through common-stock sales and repurchased $151.8 million of preferred shares. This move gives management a larger liquidity buffer without requiring Strategy to sell Bitcoin to cover routine financial commitments.