Strategy Returns to Bitcoin Accumulation with $370M Purchase
Strategy, led by Michael Saylor, has resumed its Bitcoin accumulation strategy after a two-month pause. The company acquired 4,603 BTC between August 24 and August 30 for approximately $369.7 million at an average price of $80,318 per bitcoin.
This marks Strategy's first Bitcoin purchase since late June when the firm temporarily halted its regular acquisitions due to pressure on its capital structure and preferred-stock obligations.
Strategy's pause lasted about 10 weeks, during which it focused on building cash reserves, managing its preferred securities, and strengthening its balance sheet. The company accumulated about $6.69 billion in designated dollar liquidity, including a new $1.59 billion flexible cash pool that could eventually be used to purchase Bitcoin.
The recent acquisition brings Strategy's total Bitcoin holdings to 845,050 BTC, purchased at an aggregate cost of about $63.73 billion, or an average of $75,412 per coin. The latest buy was funded entirely through Strategy's at-the-market equity offering program.