The Bitcoin treasury firm Strategy (MSTR) purchased $76,000,000 worth of BTC over the past week.
Strategy says it accumulated 950 Bitcoin at an average purchase price of $79,670 per BTC, stretching their total holdings to 846,000 BTC.
News of the firm’s purchase broke on Monday morning as Bitcoin surged by more than 6% and cracked $86,000, its highest price since January. The top crypto asset by market cap is trading at $86,045 at time of writing.
It’s Strategy’s first BTC buy since August 31st. The firm has also hawked a total of $432 million worth of Bitcoin across five separate sales stretching back to May. The sales materialized under the company’s newly introduced BTC monetization program, designed to bolster Strategy’s cash reserves and support dividend payments.
Strategy chairman Michael Saylor also noted the firm repurchased $174 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $98.91.
Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate holder of BTC by a wide margin.
The recent sales marked a dramatic shift in tone for the firm after Saylor spent years encouraging investors to “never sell” their BTC.
Now, however, Saylor maintains that vocal never-sell approach was just in reference to his personal wallet.
“When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it may buy or sell BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.”
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The post Michael Saylor’s Strategy Restarts Bitcoin Purchases, Adding $76,000,000 Worth of BTC appeared first on The Daily Hodl.
