Strategy Inc. Resumes Bitcoin Buying Mode with $75.7 Million Purchase
Michael Saylor's Bitcoin treasury firm, Strategy Inc., has resumed its 'Bitcoin buying mode' after a three-week hiatus. The company purchased 950 Bitcoins during the week ending September 20, spending $75.7 million at an average price of $79,670 per coin, including fees.
This marks Strategy's first Bitcoin purchase since August and brings its total holdings to 846,000 Bitcoins. Its acquisition cost now stands at $63.80 billion, with an average price of $75,416 per coin, just shy of its all-time high by 1,363 coins or 0.2%.
Strategy's move comes as Bitcoin rebounded to an eight-month high around $85,000, helping boost the company's stock price and bringing its market capitalization closer to the value of its Bitcoin holdings. The firm currently holds approximately $71 billion worth of Bitcoin.