Strategy Re-Enters Bitcoin Market with $370M Purchase After 10-Week Hiatus
Strategy has resumed its Bitcoin buying spree after a 10-week pause. The company acquired 4,603 BTC at an average price of $80,318 per coin, with a total purchase value of $369.7 million.
This significant buy comes after Strategy recently sold 4.53 million Class A shares, generating net proceeds of $602.8 million. Part of these funds was used to finance the Bitcoin purchase, while the remaining amount was distributed towards other financial obligations and investments.
Strategy's overall Bitcoin holdings now stand at 845,050 BTC, valued at $63.73 billion, with an average cost per coin of $75,412. Although this recent purchase is trading at a loss, Strategy's total Bitcoin treasury has appreciated by approximately 4.9% since its initial purchases.
The company's dollar reserves, which stood at $5.10 billion as of the end of the week, include $1.61 billion in cash and zero net leverage. The recent deal marks a shift in Strategy's stance on Bitcoin buying, but investors will be waiting to see if this is the beginning of a new accumulation cycle or just a one-time return.