Strategy Buys Back into Bitcoin with $370M Purchase
Strategy, a Bitcoin treasury company, has resumed buying BTC after a summer of selling it. The firm picked up 4,603 BTC for $369.7 million in the week to August 30, at an average price of $80,318 per coin.
This purchase takes Strategy's total BTC holdings to 845,050, bought for $63.73 billion at an average price of $75,412. The company paid for the acquisition by issuing stock, selling 4,531,421 MSTR shares through its at-the-market programme over the same week.
Strategy sold 6,948 BTC between May and August for roughly $432.5 million, working out at about $62,250 per coin. It has now bought back at $80,318, roughly 29% higher, leaving it 2,345 BTC lighter than before the selling started.
The company's dollar pots have also grown alongside its BTC holdings. The USD Reserve, ring-fenced for preferred dividends and debt interest, stood at $5.10 billion on August 30, with the unrestricted USD Cash account at $1.61 billion.