MicroStrategy Resumes Bitcoin Purchases with Acquisition of 950 BTC
MicroStrategy, now known as Strategy, resumed its Bitcoin buying after a two-week pause by acquiring 950 BTC in the week to September 20. The purchase valued at approximately $77 million brings total holdings to 846,000 BTC. This acquisition is significantly smaller than the previous one on August 31 when it bought 4,603 BTC for $369.7 million. In parallel, Strategy repurchased $174 million of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), a move aimed at reducing future dividend obligations and capital allocation optimization. The company's cash reserves remain strong with $6.09 billion as of September 20. Meanwhile, Bitcoin has risen above the price used in Strategy’s calculations. A smaller competitor, Strive, outperformed MicroStrategy by acquiring more BTC during the same period—1,355 coins at an average cost of $79,475 each. This acquisition brought its total holdings to 26,355 BTC.
Topics: Bitcoin Investment Strategy MicroStrategy Stock Buybacks