Strategy to Resume Bitcoin Purchases by Year's End

Strategy, the world's largest corporate holder of Bitcoin, has been selling some of its BTC holdings this year. According to CEO Phong Le, the firm plans to resume buying by the end of the year. Despite halting purchases in late June, Strategy remains a net buyer of Bitcoin, having purchased around 175,000 BTC since the start of the year and sold roughly 7,000.

Le explained that the company has used proceeds from its recent sales to support its preferred stock dividends, share repurchases, and USD reserve, which is now over $4.6 billion. The firm's focus on rebuilding its USD stash and reinstating investors' confidence in STRC may have led to the pause in buying.

STRC shares have rebounded from their $75 lows but remain below their par price of $100, closing at just over $95 on Tuesday. Le has stated that Strategy is now focused on pushing STRC to its par price, which some analysts and commentators have questioned as a departure from the company's previous objective of increasing Bitcoin per share.