Strategy Inc. Resumes Bitcoin Buying with $370 Million Purchase

Strategy Inc., the company co-founded and run by Michael Saylor, has resumed buying Bitcoin after a 10-week pause. The move comes as the crypto bear market weakens confidence in its financing model and prompts a balance-sheet overhaul.

The company's Bitcoin treasury bought $369.7 million of the tokens in the week ended Aug. 30, according to a filing on Monday. This purchase was funded by raising $602.8 million through the sale of common stock. Additionally, the company used some funds to buy back $151.8 million of preferred shares.

The return to accumulation strategy is an attempt to stabilize the company's finances and maintain confidence in its business model. The crypto market has been volatile, and companies like Strategy Inc. are trying to adapt to the changing landscape.