Strategy Inc to Resume Buying Bitcoin Later This Year

Strategy Inc's (MSTR) CEO Phong Le has confirmed that the company will resume buying Bitcoin by the end of this year. Despite recent sales, Strategy has purchased around 175,000 BTC since January and holds a total of 840,447 BTC after selling 1,690 BTC for $108.6 million in August.

The proceeds from these sales were used to repurchase preferred stock (STRC) at an average price of $94.29 each, totaling $785.2 million under the company's authorization. Strategy's US dollar reserve has grown to $4.65 billion as of August 9, and Le stated that building liquidity is currently a priority.

Le emphasized that the company will resume accumulating Bitcoin later this year, citing the importance of holding both dollars and Bitcoin as liquid assets. The company's strategy aims to stabilize its STRC preferred stock, which trades under $100 and carries a 12% annualized dividend rate.