Strategy Drops $370 Million on BTC After 'We're Back' Message

Michael Saylor's Strategy (formerly MicroStrategy) has resumed buying Bitcoin after a two-month pause. On August 31, the company announced it purchased 4,603 Bitcoins at an average price of $80,318, totaling around $369.7 million in spending.

This marks the first accumulation since May and brings their total holdings to 845,050 BTC, making them the largest public company holder globally.

The move comes after Saylor posted a cryptic message on August 30: 'We're Back.'

Strategy's decision to restart buying is significant as it shows they are not deterred by short-term market volatility and are committed to accumulating Bitcoin, even when the price has rebounded over 24% from its August low.