Strategy Buys $370 Million Worth of Bitcoin After Two-Month Drought

Michael Saylor's 'We're Back' post on Sunday sparked speculation that Strategy Inc. was preparing to resume its Bitcoin buying spree.

Just a day later, the company confirmed it had indeed bought back in, purchasing 4,603 Bitcoin for $370 million at an average price of $80,382 per coin.

This marks the end of a two-month buying drought for Strategy, which had been focusing on strengthening its balance sheet since June 29.

During that period, the company sold 6,916 BTC for around $429 million and raised $4.56 billion by issuing approximately 44.3 million MSTR shares.

Strategy's USD Cash balance was also increased by $29 million, and it repurchased $152 million worth of STRC preferred stock, bringing its total US dollar assets to $6.71 billion with net leverage at 0%.