Strategy Buys Back into Bitcoin with $370M Acquisition
Strategy, a company led by Executive Chairman Michael Saylor, has resumed buying Bitcoin after a roughly two-month pause. The latest acquisition of 4,603 BTC brings its total holdings to 845,050, making it the largest corporate Bitcoin holder with about 4% of the eventual 21 million-coin supply cap.
The purchase was funded through Strategy's at-the-market offering of its Class A common stock, which generated approximately $602.8 million in net proceeds. About $369.7 million went toward BTC purchases, while $151.8 million was used to repurchase preferred stock and another $50.7 million funded dividends.
The timing of the purchase came after Saylor posted 'We're ₿ack' on X, alongside a chart tracking Strategy's Bitcoin purchases. The company had previously reported selling part of its Bitcoin holdings during the summer as it adjusted its capital and liquidity management.