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Michael Saylor’s Strategy Resumes Bitcoin Purchases With 4,603 BTC Buy
- Cryptocurrency
Crystal Kim- 4 minutes read
Strategy has resumed its weekly Bitcoin purchases after a break of more than two months, during which it offloaded some of its BTC holdings. The Bitcoin treasury company bought BTC last week just as the leading crypto rallied above the psychological $80,000 level.
Strategy Buys 4,603 BTC For $370 Million
An SEC filing shows that the Bitcoin treasury company bought 4,603 BTC for $370 million at an average price of $80,318. It now holds 845,050 BTC, which it acquired for $63.73 billion at an average price of $75,412.
This follows Michael Saylor’s hint about a Strategy Bitcoin purchase yesterday, suggesting they bought BTC last week for the first time in over two months. Notably, the Bitcoin treasury company had sold BTC during this two-month period, with the last sale of 1,690 BTC coming earlier this month.
Strategy returns as a Bitcoin buyer amid BTC’s significant surge over the last two weeks, bouncing from a low of around $63,000 to a recent high above $81,000. This BTC rally has sparked optimism about the potential start of another bull run.
Meanwhile, it is worth noting that the company used part of the proceeds from its latest MSTR stock sale to fund this purchase. Specifically, it sold 4.53 million MSTR shares for $602 million under the at-the-market program.
STRC Stock Buyback Continues hhhh
Strategy maintained the STRC stock buybacks last week, buying nearly 1.6 million STRC shares for $151.8 million. The company used some of the net proceeds from the MSTR stock sale to fund this purchase.
Meanwhile, it used the remaining net proceeds to pay dividends on the STRC stock and increase its cash liquidity account. The company recently created the USDC cash pool, which it has now increased to $1.61 billion, while its USD reserve stands at just over $5 billion.
The Strategy stock is down amid the announcement of this latest Bitcoin purchase. MSTR is currently trading at around $128, up less than 1%, according to TradingView data. MSTR is up over 32% in the last month.
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