Strategy Resumes Bitcoin Buying as Crypto Market Sees Fresh Boost
Strategy, one of the biggest corporate holders of Bitcoin, has resumed buying after a brief pause. The company purchased another 950 Bitcoin for $75.7 million between September 14 and September 20.
The latest purchase takes Strategy's total Bitcoin holdings to 846,000 coins, close to its previous record of 847,363 Bitcoin. It paid an average of about $79,670 per Bitcoin for the latest acquisition.
Strategy's decision to add more coins comes at a crucial time for the crypto market. Bitcoin has been recovering after a period of weaker trading, and Strategy's move gives investors another development to watch as the company continues to use Bitcoin as a major part of its corporate strategy.
The cryptocurrency market has also been reacting to developments in U.S. crypto regulation. The failure of the CLARITY Act to advance in the Senate created disappointment for the industry, but the SEC introduced a temporary five-year exemption covering certain platforms that trade tokenized U.S. stocks on blockchain-based venues.