Strategy Returns to Bitcoin Buying With $369.7 Million Purchase

Strategy has returned to Bitcoin accumulation, buying 4,603 BTC for approximately $369.7 million after spending much of August directing capital toward liquidity and preferred-stock repurchases.

The company paid an average of $80,318 per bitcoin between Aug. 24 and Aug. 30, taking its holdings to 845,050 BTC. According to Strategy’s Aug. 31 Form 8-K, the company has spent about $63.73 billion on its Bitcoin position at an average acquisition price of $75,412 per BTC.

Strategy Reverses Its August Selling

The purchase reverses a run of Bitcoin sales earlier in the month. Strategy sold 1,638 BTC for $104.7 million between July 27 and Aug. 2, followed by another 1,690 BTC for $108.6 million the following week.

Those transactions reduced its holdings to 840,447 BTC as Strategy used Bitcoin proceeds to finance repurchases of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC.

The latest acquisition pushes the company’s Bitcoin balance back above that level, although it remains below the 847,363 BTC held in late June.

MSTR Share Sales Fund Bitcoin Purchase

Strategy funded the new Bitcoin acquisition through sales of its common stock rather than drawing down its existing BTC position.

The company sold 4.53 million MSTR shares during the week, generating $602.8 million in net proceeds. Of that amount, $369.7 million went toward Bitcoin purchases, $151.8 million funded the repurchase of 1.56 million STRC shares, and $50.7 million was allocated to STRC dividends.

Another $30 million was added to the company’s USD Cash account, lifting that balance to $1.61 billion as of Aug. 30. Strategy’s separate USD Reserve remained at $5.1 billion.

The purchase raises Strategy’s average Bitcoin acquisition cost only slightly, from $75,385 before the transaction to $75,412 per coin.