Strategy Reenters Bitcoin Market with $370M Acquisition
Strategy, the world's largest corporate holder of Bitcoin, has resumed its Bitcoin buying spree after a two-month hiatus. The company's co-founder and former CEO, Michael Saylor, announced on X that Strategy has acquired 4,603 BTC for nearly $370 million at an average price of $80,318 per unit.
This new purchase brings the company's total to 845,050 BTC, which was acquired for $63.73 billion at an average price of $75,412 per BTC. In addition to resuming its Bitcoin accumulation, Strategy has also continued to repurchase shares of STRC, adding another $151.8 million.
The company's decision to return to buying Bitcoin comes after a two-month focus on rebuilding its USD stash, which is now worth over $6.7 billion. Strategy used STRC to fuel its massive Bitcoin purchases in the past, causing its price to tumble to as low as $75 from its par level of $100.