Strategy, the Bitcoin treasury firm led by chairman Michael Saylor, bought 1,036 BTC worth $82 million over the past week. The purchases follow a summer of Bitcoin sales, and Bitcoin itself is trading lower.
Strategy (MSTR) stacked $82 million worth of BTC in the past week. The company bought 1,036 Bitcoin at an average purchase price of $79,012 per coin, stretching its total holdings to 850,364 BTC.
Purchases resume after the summer sales
Strategy resumed Bitcoin purchases in late August after spending the summer conducting its first Bitcoin sales since 2022. Those sales generated controversy across the crypto sector. They took place under the company's newly introduced BTC monetization program, designed to bolster its cash reserves and support dividend payments.
The sales marked a shift in tone for the firm. Saylor had spent years encouraging investors not to sell their BTC, but he now maintains that the never-sell approach referred only to his personal wallet. According to Saylor: "Strategy is a public company, not my wallet."
Preferred stock repurchase
On Monday, Saylor also noted that the firm repurchased $188 million worth of STRC, its perpetual preferred stock. STRC pays 12.00% annual dividends, is designed to have a par value of around $100 and is currently trading at $99.98.
Bitcoin slides as holdings reach $63.6 billion
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world's largest corporate BTC holder by a wide margin. Its holdings are currently worth $63.6 billion.
Bitcoin, the top-ranked crypto asset by market cap, is trading at $74,811 at time of writing. It is down nearly 1.5% in the past 24 hours, nearly 3% in the past week and nearly 10% in the past month, per CoinGecko data.
Source: The Daily Hodl
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