Crypto
Strategy Buys Bitcoin After 10-Week Pause, Sparking Speculation
Strategy, a company led by Michael Saylor, has reportedly made its first Bitcoin purchase since June 22. The news comes as BTC is close to $79,000.
The company president's social media post sparked speculation about the acquisition, but it does not confirm the deal. Strategy's reserves currently stand at 840,447 BTC, after four consecutive sales totaling 6,916 BTC.
With nearly $6.69 billion in cash available, Strategy has the resources to finance a new purchase. However, the company may use this reserve for other operations such as buying back its own shares or repaying convertible bonds.