Strategy Buys Back Thousands of BTC After Summer Sell-Off

Strategy, the company behind Michael Saylor, has made its first Bitcoin purchase in two months after selling thousands during the summer. The $369.7 million buy brings Strategy's total holdings to 845,050 BTC.

The purchase was done between August 24 and 30 for an average price of $80,318 per coin, according to a SEC filing. This is nearly 29% more than what Strategy paid in May when it sold 6,948 BTC for around $432.5 million ($62,250 each).

Strategy's decision to restart its ATM program and sell shares to acquire Bitcoin has turned out to be costly. The company issued 4,531,421 MSTR stock shares, raising a net of $602.8 million, which was then used to purchase BTC.

The Digital Credit Capital Framework is now being launched by Strategy to pay dividends and repurchase its own preferred stock. This framework plans to sell up to $1.25 billion in Bitcoin to fund these operations.