Strategy Dives into Bitcoin with $370M Purchase

Strategy, led by Michael Saylor, made a significant move in the cryptocurrency market by purchasing $370 million worth of Bitcoin. The company acquired 4,603 BTC at an average price of $80,318 each.

This purchase increases Strategy's total holdings to 845,050 BTC, representing about 4% of the total Bitcoin supply. It reinforces Strategy as the largest publicly traded corporate holder of Bitcoin.

Alongside this acquisition, Strategy also repurchased $152 million of its preferred securities (STRC) and increased its USD cash reserves to $1.61 billion, achieving a net leverage of 0.0%.