Strategy returns to bitcoin buys, adding $370 million of BTC last week
Strategy, the business intelligence firm led by executive chairman Michael Saylor, resumed its bitcoin purchasing activity last week, acquiring approximately $370 million worth of BTC. The purchase marks the company's return to active accumulation after a brief pause, further expanding what is already the largest corporate bitcoin treasury in existence. Specific details regarding the number of coins acquired and the average purchase price were disclosed in a regulatory filing.
The move is consistent with Strategy's long-standing approach of treating bitcoin as its primary treasury reserve asset, a strategy the company has pursued aggressively since August 2020. Over the years, the firm has funded its bitcoin acquisitions through a combination of equity offerings, convertible notes, and other capital market instruments, amassing hundreds of thousands of BTC on its balance sheet in the process.
The renewed buying comes against a broader backdrop of increased institutional interest in bitcoin, with several publicly traded companies and asset managers continuing to explore or expand their digital asset exposure. Strategy's purchasing activity is closely watched by market participants, as its acquisitions can signal confidence in bitcoin's near-term price trajectory and often attract attention from both retail and institutional investors.
Observers will be monitoring whether Strategy accelerates its pace of acquisition in the coming weeks, particularly as bitcoin's price performance and macroeconomic conditions continue to evolve heading into the final quarter of the year.
Source: CoinDesk
