Michael Saylor’s Strategy Resumes Bitcoin Buying After 10-Week Pause – MSTR Stock Eyes Best Month Since November 2024

• The company funded the purchase with proceeds from the sale of about 4.5 million MSTR shares through its ATM program.

• Strategy now holds 845,050 BTC, at an average cost of $75,412 per Bitcoin.

• Strategy's latest purchase was at an average price of $80,318 per BTC, above its overall average cost.

Shares of Michael Saylor-backed Strategy (MSTR) rose in early morning trade on Monday, on track to post their best monthly gains in 21 months, after the company announced on Monday that it had resumed buying Bitcoin (BTC) after a 10-week pause.

In an 8-K filing with the Securities and Exchange Commission (SEC), Strategy said it had bought about 4,600 BTC for about $370 million over the past week. The BTC purchases were funded with proceeds from at-the-market (ATM) sales of Class A common stock.

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The company sold around 4.5 million MSTR shares for approximately $602.8 million. Around $370 million went towards buying Bitcoin, while $151 million was used to repurchase its 'Stretch' preferred stock (STRC) and $50.7 million went towards funding STRC dividends. The remaining $30 million was added to the company's newly created 'USD Cash' pool.