Strategy Resumes Bitcoin Accumulation With $75 Million Purchase
Strategy has returned to the market, acquiring 950 BTC last week in its first purchase since late August.
Strategy has resumed its bitcoin buying program, adding 950 BTC to its holdings last week. The purchase, valued at $75.7 million, marks the company's first acquisition of the asset since late August.
According to a regulatory filing, the company acquired the coins at an average price of $79,670 per BTC. The purchase was funded using the company's USD reserve.
The filing also detailed other recent capital allocations, including $174 million used for share repurchases and $57.4 million for preferred stock dividends. Following these transactions, the company reports a USD reserve of $5 billion and $1 billion in USD cash.
Led by Executive Chairman Michael Saylor, the firm now holds a total of 846,000 BTC. These holdings were acquired for a total cost of $63.81 billion, representing an average purchase price of $74,417 per coin.
Shares of the company rose 7% in pre-market trading on Monday. The move coincided with a broader rally in the crypto market, as bitcoin climbed to $84,500, marking a 4.5% gain over the previous 24 hours.
