Strategy Inc. Cuts Losing Streak with Massive Bitcoin Purchase

Strategy Inc., the world's largest corporate crypto holder, has ended its unprecedented ten-week selling streak by purchasing 4,603 Bitcoin between August 24 and 30 for $369.7 million.

The aggressive move, funded by fresh at-the-market equity sales, was telegraphed by Executive Chairman Michael Saylor on social media with a simple 'We’re ₿ack' post.

Strategy paid a slight premium to the current spot market, securing its latest tranche of Bitcoin at an average price of $80,318 per coin. The company's shares rose between 1% and 2% in pre-market trading ahead of Monday's NYSE open.