Strategy buys BTC again after a two-month break. The Bitcoin treasury company purchased 4,603 coins last week.
The acquisition happened as Bitcoin rallied above the psychological $80,000 level.
Strategy buys BTC for $370 million
An SEC filing shows the company bought 4,603 BTC for $370 million. The average price was $80,318 per coin.
Strategy now holds 845,050 BTC. It acquired these for $63.73 billion. The average purchase price is $75,412.
This follows Michael Saylor’s hint about a Strategy purchase yesterday. He suggested they bought BTC last week. This is the first purchase in over two months.
The Bitcoin treasury company sold BTC during this two-month period. The last sale of 1,690 BTC came earlier this month.
Strategy returns as BTC rallies
Strategy returns as a buyer amid a significant BTC surge. Bitcoin bounced from a low of around $63,000. It recently reached a high above $81,000.
This BTC rally has sparked optimism about a potential bull run.
The company used proceeds from its latest MSTR stock sale to fund the purchase. It sold 4.53 million MSTR shares for $602 million. This was done under the at-the-market program.
STRC stock buyback continues
Strategy maintained the STRC stock buybacks last week. It bought nearly 1.6 million STRC shares for $151.8 million. The company used some MSTR proceeds to fund this purchase.
It used the remaining proceeds to pay dividends on STRC stock. It also increased its cash liquidity account. The company recently created the USDC cash pool. It has now increased this to $1.61 billion. Its USD reserve stands at just over $5 billion.
The Strategy stock is down despite the Bitcoin purchase announcement. MSTR currently trades at around $128. It is up less than 1%, according to TradingView data. Nevertheless, MSTR is up over 32% in the last month.