Strategy Fades Out of Bitcoin Buying Streak After One Week

Strategy's Bitcoin buying streak lasted exactly one week in late August and early September. The company ended its two-month BTC drought by purchasing $370 million of Bitcoin at an average price of $80,318 per coin on August 30. However, it appears that Strategy did not continue this trend as the company filed a new report stating that no Bitcoin was bought or sold between September 1 and September 7.

Instead, Strategy focused on buying back its own preferred stock, STRC, spending $176.3 million at an average price of approximately $81,091 per share. This buyback program has been increased in authorization from $1 billion to $2 billion, with $1.19 billion remaining available as of September 7.

As a result, Strategy's Bitcoin stack remains unchanged, holding 845,050 BTC purchased for $63.73 billion at an average price of $75,412 per coin including fees. The company's USD balances now stand at $5.10 billion in the USD Reserve and $1.44 billion in USD Cash.