Strategy to Resume Bitcoin Accumulation Later This Year

Strategy, a firm that holds the largest institutional Bitcoin (BTC) position, has announced plans to resume accumulating BTC later this year. According to CEO Phong Le, the company intends to increase its exposure to Bitcoin again throughout the course of the year.

In a recent interview with FOX Business, Le revealed that Strategy purchased around 175,000 BTC since the start of the year while selling roughly 7,000 BTC. This means the company remains a major net buyer, with Le characterizing the net flow as 'about 25 times more' buying than selling.

Strategy has moved from being the world's second-largest institutional Bitcoin holder to becoming the largest, and it has accumulated over 840,000 BTC overall. However, the firm has also made sales on four occasions since May, with the most recent sale totaling 1,690 BTC.

The proceeds from these sales have been used for various purposes, including supporting preferred stock dividends, funding share repurchases, and adding to its U.S. dollar reserve.