Strategy Resumes Bitcoin Buying With $370 Million Purchase After Two-Month Pause

Strategy bought 4,603 bitcoin for $369.7 million between Aug. 24 and Aug. 30, its first weekly purchase since late June, according to a Form 8-K filed with the SEC on Monday. The average price was $80,318 per coin.

The purchase was funded entirely by common equity. Strategy sold 4,531,421 shares of MSTR stock last week for $602.8 million in net proceeds and split the money four ways: $369.7 million into bitcoin, $151.8 million to repurchase 1,557,177 shares of its STRC preferred stock, $50.7 million to fund STRC dividends and $30 million into its USD Cash account, which stood at $1.61 billion as of Aug. 30. Its separate USD Reserve held $5.10 billion.

Saylor telegraphed the buy, posting the company’s holdings tracker on Sunday with the caption “We’re back,” then following up Monday with “paint the bears orange.” Holdings now total 845,050 BTC acquired for $63.73 billion, an average of $75,412 per coin, leaving the position roughly $2 billion above cost at prices around $78,000. That stack is equivalent to more than 4% of bitcoin’s 21 million supply cap. MSTR closed Monday at $132.94, up 4.42% on the day.

The pause that just ended followed a difficult summer. Strategy sold $216 million of bitcoin, its largest disclosed sale ever, after pausing STRC share sales when the preferred stock fell well below its $100 par value and switched off the flywheel that had funded months of buying. The company on June 29 unveiled a Digital Credit Capital Framework authorizing $1 billion of preferred repurchases and $1 billion of common buybacks, of which $364.8 million and $1 billion respectively remain available.

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