Strategy Resumes Bitcoin Purchases After 10-Week Pause

Strategy, led by executive chairman Michael Saylor, has resumed its Bitcoin purchases after a 10-week pause. On August 30, Saylor posted 'We're ₿ack,' signaling the end of the hiatus. The company's last reported Bitcoin purchase occurred on June 22, and during this time, Strategy sold roughly 3,588 BTC in July to fund dividend obligations and shore up its dollar reserves.

The numbers behind Strategy's war chest are impressive. As of late August, the company reported holding approximately 840,447 BTC at an average cost of about $75,385 per coin, valuing the total investment around $63.36B. With Bitcoin trading near $79,000, Strategy's position is currently sitting in profit territory, with a value of roughly $66.4B against the $63.36B cost basis.

The 10-week gap between signals was the longest dry spell since Strategy began its Bitcoin acquisition strategy. During this time, the company raised capital through equity issuances and used BTC sales to cover operational costs, including dividend payments that come with the preferred stock it issued earlier in the year.