Strategy Resumes Consecutive Weekly Bitcoin Purchases
Strategy, the Bitcoin treasury company led by Michael Saylor, has resumed consecutive weekly purchases of Bitcoin for the first time since June. The company had sold some of its Bitcoin earlier this quarter but is now rebuilding its position.
In a recent disclosure, Strategy revealed that it spent $142.7 million to acquire 1,665 BTC at an average price of $85,681 during the week ending September 27. This purchase follows last week's acquisition and indicates that after months of alternating purchases, pauses, and intermittent selling, Strategy has ramped up its Bitcoin accumulation.
Strategy's Bitcoin Holdings Reach All-Time High
The new wave of purchases pushed Strategy's Bitcoin holdings to an all-time high of 847,666 coins, with a total investment of approximately $63.9 billion and an average cost basis of $75,437 per coin. Year-to-date, the company has cumulatively acquired 175,166 BTC.
Strategy funded this Bitcoin purchase through its at-the-market (ATM) equity offering program, which generated $246.2 million in net proceeds last week. The company still has $18.84 billion remaining under the issuance program.