Strategy Buys $370M Worth of Bitcoin in First Purchase Since June
Bitcoin treasury company Strategy has resumed buying Bitcoin after a period of selling, acquiring 4,603 BTC for $369.7 million at an average price of $80,318 per coin during the week ending August 30. This brings its total holdings to 845,050 BTC, purchased for approximately $63.73 billion on average. The purchase was funded by issuing stock through its at-the-market program, which raised a net of $602.8 million. Strategy had previously sold around 6,948 BTC between May and August to cover obligations after STRC fell below its $100 par value in June. It has now bought back Bitcoin at prices about 29% higher than the previous selling price. The company's USD reserves have grown significantly, with a total of $6.71 billion across ring-fenced accounts for preferred dividends and unrestricted cash. In addition to buying Bitcoin, Strategy repurchased 1,557,177 STRC shares for $151.8 million during the week, leaving about $364.8 million remaining under its digital credit buyback authorization.
