Strategy Reboots Bitcoin Buys Amid Self-Custody Fears and ETF Demand

Strategy, one of the largest institutional holders of Bitcoin, plans to resume buying the cryptocurrency later this year. The decision comes after a series of relatively small sales drew scrutiny over its 'never sell' stance.

The company's CEO, Phong Le, said Strategy bought around 175,000 BTC and sold about 7,000 BTC this year - roughly 25 times more buying than selling. It now holds more than 840,000 BTC.

A recent hardware wallet exploit drained $116 million in Bitcoin, raising concerns over self-custody risks. However, US spot Bitcoin ETFs recorded their strongest inflows since April, with Bloomberg analyst Eric Balchunas wondering whether security scares could push investors away from self-custody and toward ETFs.