Strategy Extends No-Buy Pause on Bitcoin, Adds Billions to USD Reserve
Strategy, the world's largest corporate holder of Bitcoin, has extended its no-buy pause for another week. This decision means that Strategy will continue to refrain from buying any more BTC. However, the company did take steps to bolster its USD reserve. It increased its regular USD reserve to $5.1 billion and established a new USD Cash reserve worth $1.59 billion.
In addition to growing its cash reserves, Strategy also repurchased $136 million worth of STRC shares. The price of STRC has been rising closer to the par level of $100. Since last selling 1,690 BTC on August 10, Strategy has made no further Bitcoin moves.
The company's massive position in Bitcoin is now profitable for the first time in months. With an average accumulation price of around $75,400 and a total investment of approximately $63.3 billion, Strategy's Bitcoin holdings are worth over $65.6 billion at current prices.