Strategy Ditches 'Buy Every Dip' Bitcoin Strategy for Flexibility
Strategy, one of the world's largest institutional Bitcoin holders, has announced it will no longer dedicate all its new capital to buying BTC. During its Q2 earnings call, the company confirmed that future fundraising efforts will be split between purchasing Bitcoin and strengthening its USD reserve.
The move comes after Strategy went three consecutive weeks without buying any more Bitcoin. Between July 20th and July 26th, the company's holdings remained unchanged at 843,775 BTC, acquired at a total cost of $63.69 billion with an average purchase price of $75,476 per Bitcoin.
Instead of investing in more BTC, Strategy sold 5.42 million Class A shares, raising $544.5 million and increasing its USD reserve to $3.75 billion. This amount is enough to cover preferred dividends and interest payments for over two years.