Strategy has bought Bitcoin again after a two-week pause, adding 4,603 BTC worth $370 million. The purchase follows five separate BTC sales totaling $432 million since May under the firm's new monetization program, and Saylor says his "never sell" pledge only ever applied to his personal holdings.
Strategy (MSTR), the Bitcoin treasury firm led by Michael Saylor, is buying BTC again. The firm accumulated 4,603 Bitcoin at an average price of $80,318 per BTC, spending a total of $370 million.
First purchase since June
The buy marks the firm's first BTC purchase since June 22nd, following two weeks in which Strategy neither added nor sold any Bitcoin.
Strategy has sold a total of $432 million worth of Bitcoin across five separate sales stretching back to May. Those sales came under the firm's newly introduced BTC monetization program, designed to bolster its cash reserve and support dividend payments.
Cash reserve and preferred stock
Saylor said Monday that the firm increased its US dollar reserve by $29 million in the past week. Strategy also repurchased $152 million worth of STRC, its perpetual preferred stock that pays a 12% annual dividend. STRC carries a par value of around $100 but is currently trading at $96.66.
Saylor defends the shift
The recent sales mark a shift in tone after Saylor spent years urging investors to never sell their Bitcoin. Now, however, Saylor maintains that pledge was only ever about his personal wallet, not the company's.
According to The Daily Hodl: "Strategy is a public company, not my wallet." He added that the firm has disclosed since 2020 that it may buy or sell BTC to manage capital, and that the shared conviction in Bitcoin remains unchanged.
Source: The Daily Hodl
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