Michael Saylor’s Strategy Restarts Bitcoin Purchases, Adding $76,000,000 Worth of BTC
Story summary
The Bitcoin treasury firm Strategy (MSTR) purchased $76,000,000 worth of BTC over the past week. Strategy says it accumulated 950 Bitcoin at an average purchase price of $79,670 per BTC, stretching their total holdings to 846,000 BTC. News of the firm’s purchase broke on Monday morning as Bitcoin su
📌 Key Highlights & Takeaways
- The Bitcoin treasury firm Strategy (MSTR) purchased $76,000,000 worth of BTC over the past week.
- Strategy says it accumulated 950 Bitcoin at an average purchase price of $79,670 per BTC, stretching their total holdings to 846,000 BTC.
- News of the firm’s purchase broke on Monday morning as Bitcoin su
The Bitcoin treasury firm Strategy (MSTR) purchased $76,000,000 worth of BTC over the past week.
Strategy says it accumulated 950 Bitcoin at an average purchase price of $79,670 per BTC, stretching their total holdings to 846,000 BTC.
News of the firm’s purchase broke on Monday morning as Bitcoin surged by more than 6% and cracked $86,000, its highest price since January. The top crypto asset by market cap is trading at $86,045 at time of writing.
It’s Strategy’s first BTC buy since August 31st. The firm has also hawked a total of $432 million worth of Bitcoin across five separate sales stretching back to May. The sales materialized under the company’s newly introduced BTC monetization program , designed to bolster Strategy’s cash reserves and support dividend payments.
Strategy chairman Michael Saylor also noted the firm repurchased $174 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $98.91.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC by a wide margin.
The recent sales marked a dramatic shift in tone for the firm after Saylor spent years encouraging investors to “never sell” their BTC.
Now, however, Saylor maintains that vocal never-sell approach was just in reference to his personal wallet.
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