Michael Saylor's Strategy Resumes Bitcoin Purchases
Michael Saylor’s company, Michael Saylor's Strategy (NASDAQ:MSTR), has resumed buying Bitcoin after a period of sales. In its first purchase since late August, the firm acquired 950 BTC for approximately $75.7 million, bringing total holdings to 846,000 bitcoin valued at around $63.8 billion. The company did not sell any shares under its at-the-market offering program during this period and also spent significant amounts on preferred stock repurchases and dividends. Despite a summer of sales that reduced the Bitcoin stack slightly from June’s peak, Strategy's holdings remain substantial—accounting for about 4% of the total supply cap. The move has been positively received in the market, with MSTR shares rising by nearly 9%. The purchase aligns with broader optimism around crypto markets and regulatory developments.
Topics: Bitcoin Michael Saylor's Strategy MSTR Preferred Dividends Stock Repurchase