Strategy Resumes Bitcoin Buying Spree with $370 Million Purchase

Strategy, formerly known as MicroStrategy, has resumed its Bitcoin buying spree after a two-month pause. On August 31, they announced that over the past week, they purchased 4,603 Bitcoins at an average price of $80,318, spending around $370 million in total.

This significant move brings their total holdings to 845,050 BTC, solidifying their position as the largest public company holder globally. The funds used for this purchase came entirely from ATM stock issuance, with net capital raised exceeding $600 million that week, most of which went directly into Bitcoin.

Saylor's decision not to buy at the bottom but instead after a 24% rebound in BTC price shows his focus on long-term goals rather than short-term volatility. With ample dollar reserves and near-zero net leverage, Strategy is now in a better position to invest confidently.

This move sends a clear signal that institutional buying is back on track, with Strategy's 'We're Back' post on August 30 hinting at their renewed commitment to accumulating Bitcoin.