Strategy Buys $369.7M Worth of Bitcoin at $80,318 Per Coin

Strategy, the software company led by Michael Saylor, has bought 4,603 Bitcoin at $80,318 per coin, lifting its total position to 845,050 BTC. This marks Strategy's first Bitcoin purchase in about 10 weeks, after selling roughly 7,000 BTC between June 30 and August 10 for between $59,000 and $64,000 per coin.

The latest purchase was funded with $602.8 million from common stock sales and used $151.8 million to repurchase STRC. This brings Strategy's total Bitcoin outlay to $63.73 billion, with an average cost of $75,412 per coin.

Saylor's return to buying Bitcoin has raised questions about the company's strategy and whether it was a well-timed trade or a costly mistake. Despite selling thousands of Bitcoin below the current price, Strategy's rebuilt cash position gives it more room to keep buying if prices remain under pressure.