Strategy Resumes Bitcoin Buying After 10-Week Pause
Michael Saylor's investment strategy has resumed buying Bitcoin after a 10-week pause. Strategy, backed by Michael Saylor, acquired approximately 4,600 BTC for about $370 million over the past week.
The purchases were funded with proceeds from the sale of around 4.5 million MSTR shares through its ATM program. The company sold these shares for approximately $602.8 million.
Around $151 million was used to repurchase Strategy's 'Stretch' preferred stock (STRC) and $50.7 million went towards funding STRC dividends. The remaining $30 million was added to the company’s newly created 'USD Cash' pool.
Strategy's latest addition to its Bitcoin stash was acquired at an average price of $80,318 per BTC, bringing total holdings to 845,050 BTC. This is Strategy’s first reported Bitcoin purchase since June 22, when it added 520 BTC.