Strategy Resumes Buying Bitcoin After 10-Week Pause, Spends $370M

Michael Saylor's company, Strategy, has resumed buying Bitcoin after a 10-week pause. The latest purchase of $369.7 million is part of its accumulation strategy.

The company bought 4,603 Bitcoin between August 24 and August 30 at an average price of $80,318 per token. This brings its total holdings to 845,050 Bitcoin acquired for a combined $63.73 billion at an average cost of $75,412 per token.

Funding for the latest acquisition came largely through Strategy's at-the-market common-stock program, with the company raising about $602.8 million in net proceeds from share sales during the week. Of that amount, $369.7 million went toward Bitcoin purchases.