Strategy Resumes Bitcoin Buying After 10-Week Hiatus

According to reporting by Bitcoin Magazine, software company Strategy has resumed its bitcoin purchases after a 10-week hiatus, acquiring nearly $370 million worth of the cryptocurrency. A filing with the Securities and Exchange Commission details that Strategy purchased 4,603 bitcoins between August 24 and August 30 at an average price of $80,318 per coin.

Previously, Strategy paused its acquisitions in June to focus on building a cash buffer, buying back stock, and occasionally selling holdings. In June, CEO Phong Le stated that the company is transitioning toward active capital management to create shareholder value. Following the latest purchases, Strategy holds 845,050 bitcoins, valued at $65.8 billion, alongside $5.1 billion in its USD Reserve and $1.61 billion in its USD Cash reserve.

Originally beginning its bitcoin treasury strategy in August 2020, Strategy has spent over $63.7 billion on bitcoin and remains the largest corporate holder globally. Chairman and founder Michael Saylor noted the company's focus on creating digital credit, including high-yield products like preferred equity STRC backed by its bitcoin holdings. Strategy's stock traded slightly higher on Monday morning in New York, while Bitcoin traded for $77,821.