Strategy Buys $370M Bitcoin as Michael Saylor Signals Return to Accumulation

Michael Saylor's Strategy has made its first major Bitcoin purchase since mid-June. The company acquired 4,603 BTC at an average price of $80,318, pushing its holdings to 845,050 BTC, with a total value of $63.3 billion.

The Bitcoin purchase was funded by the net proceeds from Strategy's sale of 602 million MSTR common stock, worth around $370 million. The company used some of these funds to increase its USD Cash reserve and repurchase its preferred STRC stock.

This move marks a significant shift for Strategy, which had been quiet on Bitcoin acquisitions since June. However, in a recent tweet, Saylor signaled the company's intention to resume accumulating Bitcoin, stating 'We're Back.'