Strategy Buys $370M of Bitcoin in First Purchase Since June

In brief

• Strategy bought 4,603 Bitcoin for $369.7 million between August 24 and 30, its first purchase in around two months.
• It funded the buy by selling 4,531,421 MSTR shares through its at-the-market programme, raising $602.8 million.
• The firm's Bitcoin holdings now stand at 845,050 BTC, with $6.71 billion in dollar assets across its USD Reserve and USD Cash pots.

Strategy has started buying Bitcoin again after a summer spent selling it.

The Bitcoin treasury company picked up 4,603 BTC for $369.7 million in the week to August 30, at an average of $80,318 apiece, according to a filing with the Securities and Exchange Commission. That takes its stack to 845,050 BTC, bought for $63.73 billion at an average of $75,412.

It paid for the purchase by issuing stock. Strategy sold 4,531,421 MSTR shares through its at-the-market programme over the same week, raising $602.8 million net of commissions. Bitcoin took $369.7 million of that, STRC buybacks $151.8 million, dividends on the same preferred stock $50.7 million, and $30 million went into its USD Cash account.

Selling low, buying higher

Strategy sold 6,948 BTC for roughly $432.5 million between May and August, working out at about $62,250 a coin. It has now bought back at $80,318, roughly 29% higher, leaving it 2,345 BTC lighter than before the selling started, with about $63 million of the difference retained in cash.