Strategy buys 4,603 Bitcoin after two-month pause

Strategy, formerly MicroStrategy, resumed Bitcoin purchases after a two-month hiatus, acquiring 4,603 BTC for $369.7 million during the week ending Aug. 30, according to an Aug. 31 announcement. The move marks the company's first purchase since the period of June 15-21, when it bought 520 BTC for $34.9 million.

The resumption of buying follows a series of sales executed by Strategy over the prior weeks amid market volatility. The company sold 32 BTC for $2.5 million during May 26-31, its first sale since 2022. Subsequent divestitures included 3,588 BTC for $216 million during June 29-July 5, 1,638 BTC for $104.73 million during July 27-Aug. 2, and 1,690 BTC for $108.6 million during Aug. 3-9. Strategy did not purchase any Bitcoin during the intervening weeks.

To fund the latest acquisition, Strategy sold MSTR common shares for $602.8 million last week. The proceeds were allocated to the purchase of the 4,603 BTC, the repurchase of $151.8 million in preferred STRC stock, and an increase in its U.S. dollar reserves.

The company cited a rally in the cryptocurrency as a factor in its decision to re-enter the market. This rally was triggered by the U.S. Treasury's Aug. 19 announcement to at least double the amount of longer-term bond buybacks, a move that sparked hopes for improved liquidity.

With this latest addition, Strategy's total Bitcoin holdings stand at 845,050 BTC, maintaining its position as the world's largest corporate Bitcoin treasury. The company's average acquisition price is $75,412 per coin. Against a current Bitcoin price of $78,082.92, Strategy reports an unrealized profit of $2.25 billion.