Strategy bought 4,603 Bitcoin for $369.7 million last week, its first purchase since mid-June. The company paid for the coins by selling MSTR stock, and Michael Saylor had already signaled the return with a two-word post on X. Strategy's holdings now stand at 845,050 BTC.
Strategy bought 4,603 Bitcoin for $369.7 million in the week to August 30, at an average price of $80,318 a coin. It is the company's first Bitcoin purchase since mid-June, when it last acquired 1,587 BTC for roughly $100 million.
Saylor signals a return to buying
Executive Chairman Michael Saylor hinted at the move a day earlier. According to Cointelegraph, Saylor posted on X on Sunday: "We're Back".
The purchase ends a summer of selling. Between May and August, Strategy sold 6,948 BTC for about $432.5 million, an average of roughly $62,250 a coin, and it has now bought back at $80,318 apiece — roughly 29% higher — leaving it 2,345 BTC lighter than before the selling started.
How Strategy paid for it
Strategy funded the buy by selling 4,531,421 MSTR shares through its at-the-market programme, raising $602.8 million. Of that, $369.7 million went to Bitcoin, $151.8 million went to buy back STRC preferred stock, and $30 million went into the company's USD Cash reserve.
STRC, Strategy's perpetual preferred stock, had been trading below its $100 par value since June, closing off a funding route the company had used to buy Bitcoin. Strategy set up a Digital Credit Capital Framework authorizing up to $1.25 billion of Bitcoin sales to cover dividends and preferred-stock buybacks, and it resumed buying only once selling new MSTR stock became the cheaper option again.
Bitcoin holdings top 845,000 coins
The purchase takes Strategy's total holdings to 845,050 BTC, bought for $63.73 billion at an average price of $75,412.
Bitcoin itself was trading around $78,400 on Monday, up marginally from late Friday. MSTR shares rose 1.65% in pre-market trading the same morning.
Sources: Cointelegraph, Decrypt, CoinDesk
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