Strategy's $445 Million Rebuy Fails to Replace Missing BTC

Strategy, led by Michael Saylor, recently spent weeks re-buying Bitcoin it had sold earlier in the summer. The company originally sold 6,948 BTC between May and August at an average price of $62,150 each. It then repurchased 5,553 coins at an average price of $80,207.

The rebuy was 29% more expensive than the original sale, resulting in a loss of $100.2 million for shareholders due to being out of the market during a Bitcoin rally. Additionally, the company's decision to sell BTC was initially attributed to 'media purposes' rather than a need for cash.

Strategy has now paid a total of $445.4 million to reacquire 5,553 coins, but still holds 1,363 missing coins that would require another $100 million at current prices to replace.