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Strategy resumes bitcoin purchases after 10-week hiatus
Strategy’s latest filings show it bought 4,603 bitcoins for $369.7 million between August 24 and August 30, averaging $80,318 per coin.
Strategy resumed bitcoin buying after a 10-week pause to rebalance its cash reserves, according to an announcement cited by Bitcoin Magazine. The bitcoin treasury spent nearly $370 million on the cryptocurrency last week.
A Securities and Exchange Commission filing shows Strategy purchased 4,603 bitcoins for $369.7 million between August 24 and August 30, at an average price of $80,318 per bitcoin. The report adds that Strategy paused buys in June, when it shifted to building a cash buffer and also conducted stock buybacks, sometimes selling some holdings.
Bitcoin Magazine also notes that Strategy, formerly MicroStrategy, has continued using bitcoin as a treasury strategy since August 2020. The company has since spent more than $63.7 billion buying bitcoin and remains the largest corporate holder of the asset.
Strategy has $5.1 billion in its USD Reserve and $1.61 billion in a new USD Cash reserve, the outlet said. Strategy’s CEO, Phong Le, previously described the shift as moving toward active capital management rather than one-way issuance, while its stock trades under NASDAQ: MSTR.
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