Strategy Resumes Buying Bitcoin, Adds $370 Million Worth

Michael Saylor's Strategy firm has resumed buying Bitcoin after a two-week hiatus. The company accumulated 4,603 BTC at an average price of $80,318 per coin, totaling $370 million in spending.

This is the first purchase since June 22nd and comes as Strategy also reported selling a total of $432 million worth of BTC across five separate sales since May under its newly introduced BTC monetization program.

The program aims to bolster the company's cash reserve and support dividend payments. Saylor noted that the firm increased its US dollar reserve by $29 million in the past week and repurchased $152 million worth of STRC, the perpetual preferred stock with a 12% annual dividend.