Strategy's Bitcoin Holdings Near Previous Record After Recent Purchase
Strategy, the company led by Michael Saylor focused on accumulating Bitcoin (BTC), has increased its holdings to nearly match a previous record set in June. The firm purchased 950 BTC for $75.7 million during the week ending September 20, bringing its total holdings close to 846,000 BTC and within 1,363 coins of its peak reported stack. The company's recent buying activity follows a summer period where it sold off part of its Bitcoin reserve due to market conditions. Strategy has since been rebuilding its position by adding over 5,500 BTC in the last two months. The firm’s latest purchases were made at an average price significantly above both previous sales and their blended cost basis. In addition to buying Bitcoin, Strategy also spent $174 million repurchasing preferred shares (STRC), drawn from its USD Cash reserve which has now fallen below $1 billion. No common stock buybacks have been executed yet under a separate $1 billion authorization.
Topics: Bitcoin corporate finance stock buybacks treasury strategy