Strategy Re-Enters Bitcoin Market with $370 Million Purchase
Strategy has resumed buying Bitcoin after a weeks-long pause, spending approximately $370 million to add 4,603 BTC last week. The purchase brings Strategy's Bitcoin holdings to 845,050 BTC as of August 30.
The company also added $29 million to its dollar reserves and repurchased about $152 million of its STRC preferred stock. Its combined USD assets now total around $6.71 billion, strengthening its liquidity position and providing more funds for financial obligations and its Bitcoin strategy.
Strategy paid roughly $80,380 per Bitcoin in its latest purchase, which exceeds the company's average Bitcoin cost of about $75,385. Bitcoin recently traded near $78,725.