Strategy Breaks Weeks-Long Drought with $370 Million Bitcoin Purchase
Strategy, the world's largest publicly traded Bitcoin holder, has ended its weeks-long inactivity by making a major Bitcoin purchase. In an announcement last week, company founder Michael Saylor revealed that Strategy bought 4,603 BTC for $370 million.
This latest acquisition brings Strategy's total Bitcoin holdings to 845,050 BTC, exceeding 845,000 BTC for the first time. The company had previously sold some of its Bitcoin to finance dividend payments and support its cash reserves.
As part of its strategy, which began in 2020, the company has become one of the world's largest institutional Bitcoin holders. In addition to buying more Bitcoin, Strategy also increased its USD cash assets by $29 million, bringing its total USD assets to approximately $6.71 billion as of August 30.
Strategy repurchased around $152 million worth of STRC shares in this period, demonstrating the company's ongoing management of its capital structure alongside its Bitcoin purchases.