Strategy Extends Bitcoin Purchase Pause to Five Weeks Despite Reserve Growth

Strategy, the Bitcoin treasury firm and largest corporate holder of BTC, has extended its pause on purchasing new Bitcoin to five weeks. This marks the company's third consecutive week without buying or selling any BTC, following a two-week period where it sold 3,588 BTC for $216 million.

The sales were part of Strategy's newly introduced BTC monetization program aimed at bolstering the firm's cash reserve and supporting dividend payments. The company increased its US dollar reserves by $525 million over the past week but refrained from buying any new Bitcoin.

Strategy chairman Michael Saylor noted that they also repurchased 288,930 shares of STRC for $25 million at an average price of $86.52 per share. STRC is trading at $88.32 and is up 1.65% on Monday.