Strategy Resumes Bitcoin Buying with $370 Million Purchase
Strategy, a firm known for its significant Bitcoin holdings, has resumed purchasing BTC after a ten-week pause. The company bought 4,603 Bitcoins between August 24 and August 30 at an average price of $80,318 per coin.
This transaction adds to Strategy's existing holdings, bringing the total number of BTC to 845,050. The purchase was made using funds generated from the sale of approximately 4.53 million MSTR shares, which raised around $602.8 million.
Strategy's decision to restart its Bitcoin buying activity comes after a period of focusing on liquidity management and preferred stock position strengthening. The company repurchased $152 million worth of STRC preferred stock during this time, increasing its USD cash pool by $29 million to $1.61 billion.