Crypto
Strategy Resumes Buying Bitcoin After Three-Week Pause
Strategy, the company led by Executive Chairman Michael Saylor, has resumed buying Bitcoin after a three-week pause. The purchase of 950 BTC for $75.7 million at an average price of $79,670 per coin predates Monday's short-squeeze rally that pushed the price above $85,000.
The buy was made from Strategy's USD Cash reserve rather than new share sales, and it lifts the company's total holdings to 846,000 BTC. The aggregate value of these holdings is now $63.80 billion at an average price of $75,416 per coin.
The timing of the purchase is significant because it occurred before Monday's sharp move higher in Bitcoin prices, which reached an eight-month high driven by a wave of short liquidations.