Strategy Resumes Bitcoin Buys After Week-Long Pause

Michael Saylor's firm, Strategy, has resumed buying Bitcoin after a week-long pause. The break in purchasing was the first time this year that the company did not make weekly acquisitions. In March, Strategy bought approximately $77 million worth of Bitcoin at an average price of $74,326 per coin.

The firm funds a significant portion of its purchases through the sale of its perpetual preferred stock, STRC, which is designed to trade near a par value of $100 through a monthly dividend adjustment mechanism. Based on estimates from STRC.LIVE, Strategy may be positioned to purchase at least 1,821 Bitcoin using capital raised during the week ending April 3.

Strategy has acquired a total of 762,099 Bitcoin at an average cost of $75,694 per coin. At a current price of approximately $69,100, the firm's holdings are underwater overall.