Strategy Resumes Bitcoin Buying After Two-Week Pause
Strategy, a company known for its Bitcoin holdings, has resumed buying after a two-week pause. The firm spent $75.7 million on 950 BTC between September 14 and September 20, averaging $79,670 per coin including fees and expenses.
The purchase increased Strategy's total holdings to 846,000 BTC, acquired for a total of $63.80 billion at an average cost of $75,416 per Bitcoin. The company's share price gained 7.4% to $165.20 in Monday premarket trading as Bitcoin traded above the price paid for the latest acquisition.
Strategy also repurchased 1.77 million STRC preferred shares for $174 million during the same period, spending more than twice the amount allocated to Bitcoin. The company has used repurchases and its dividend policy to keep the security trading close to its stated value of $100 per share.