Strategy resumed Bitcoin purchases again after a break of more than two months, acquiring 4,603 BTC last week as the cryptocurrency traded above $80,000. The deal marked the company’s first reported Bitcoin acquisition since June.
According to an SEC filing, the Bitcoin treasury company purchased 4,603 BTC for $370 million at an average price of $80,318 per coin. Its total holdings reached 845,050 BTC, acquired for $63.73 billion at an average price of $75,412.
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Strategy Returns to Bitcoin Buying After August Sales
The renewed buying followed a period in which the company reduced its Bitcoin holdings through several sales. Strategy’s most recent sale involved 1,690 BTC earlier in August, before it returned to accumulation.
In a post on X, Executive Chairman Michael Saylor hinted at a possible Bitcoin purchase on Sunday, one day before Strategy confirmed the acquisition in a regulatory filing.
Bitcoin’s rebound provided the market backdrop for the purchase. The asset climbed from a low near $63,000 to above $81,000 during the two weeks, reversing part of its earlier decline.
Strategy financed the Bitcoin purchase with proceeds from its at-the-market common stock program. The company sold 4,531,421 MSTR shares, generating $602.8 million in net proceeds during the week.
The funds supported several corporate activities. Strategy allocated $369.7 million to Bitcoin and spent $151.8 million repurchasing 1,557,177 shares of its STRC preferred stock.
MSTR Remains Steady as Strategy Expands Cash Holdings
Strategy also allocated $50.7 million to STRC dividend payments. It transferred another $30 million to its USD Cash account, increasing the balance to $1.61 billion as of August 30.
The company’s USD Reserve balance stood at $5.10 billion. The balance of dollars is used for covering corporate obligations, such as preferred dividends and interest payments.
The MSTR price did not react significantly to the disclosure. According to TradingView data, the stock is trading close to $128 and increased by less than 1%, despite the monthly increase, which stayed over 32%.
Strategy kept $19.09 billion of available issuance capacity in MSTR shares within the common stock program. The separate authorization for purchases of up to $1 billion of MSTR shares remained unused, according to the filing.
Future purchases are subject to decisions made by management and future disclosures. No information yet about the continuation of weekly accumulation after this transaction.
Therefore, investors will monitor the next SEC filing regarding changes in the Bitcoin holdings of the company.
The filing also shows the company will use new funds for the purchase of BTC, repurchase of STRC shares, dividends, or its dollar liquidity accounts.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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