Strategy Resumes Bitcoin Purchases Amid BTC Rally

Michael Saylor's Bitcoin investment vehicle has resumed its weekly purchases of BTC after a two-month hiatus, buying 4,603 units last week at an average price of $80,318. The Strategy company, which holds 845,050 BTC acquired for $63.73 billion on average, used part of the proceeds from its recent MSTR stock sale to fund this purchase.

The latest purchase comes as Bitcoin has surged over the past two weeks, bouncing from a low of around $63,000 to a recent high above $81,000. The company had sold BTC during the two-month period, with the last sale of 1,690 units coming earlier this month.

Strategy also continued its STRC stock buybacks last week, buying nearly 1.6 million shares for $151.8 million using some of the net proceeds from the MSTR stock sale. The company used the remaining funds to pay dividends on the STRC stock and increase its cash liquidity account.