Strategy Buys $75 Million of Bitcoin As Price Rallies

After remaining on the sidelines over the past few weeks, Strategy (NASDAQ: $MSTR) has resumed its Bitcoin (CRYPTO: $BTC) purchases.

Over the last week, the serial cryptocurrency acquirer bought $75 million U.S. of Bitcoin, according to a regulatory filing.

Strategy purchased 950 BTC for $75.7 million U.S., buying the largest cryptocurrency at an average price of $79,670 U.S. per coin.

It was the company's first Bitcoin purchase since late August of this year. The BTC was paid for out of Strategy's cash reserves.

Led by Executive Chairman Michael Saylor, Strategy now owns 846,000 Bitcoin, acquired at an average price of $74,417 U.S.

The new Bitcoin was bought as the price of BTC continues to rally higher. On Sept. 21, Bitcoin was back above $85,000 U.S. and at its highest level since January of this.

BTC was trading at $85,300 U.S. early on Sept. 21, up 5% in the past 24 hours.

MSTR stock was up 8% at $166.08 U.S. a share in premarket trading, rallying alongside crypto prices.