Strategy Resumes Bitcoin Buying with $370M Acquisition

Strategy has resumed buying Bitcoin after a brief pause, acquiring 4,603 BTC at an average price of $80,318 per coin. The total purchase cost was approximately $370 million, which brings the company's total treasury holdings to 845,050 BTC.

The funding for this purchase came from net proceeds from the sale of 602 million MSTR common stock. Strategy also allocated a portion of these proceeds towards corporate cash and share repurchases.

This marks Strategy's first corporate Bitcoin acquisition since mid-June when it purchased 1,587 BTC for roughly $100 million. The company has signalled its intention to continue accumulating Bitcoin through its co-founder and executive chairman Michael Saylor, who posted 'We're Back' on X, a social platform, ahead of the announcement.

Strategy's preferred stock STRC remains a key part of its funding model, with trading below par potentially constraining the company's ability to raise capital via STRC sales. The company will need to manage this dynamic as it continues to scale its treasury size.