Strategy, the world’s largest publicly traded Bitcoin holder, hadn’t purchased any BTC for weeks. However, they changed that and made a Bitcoin purchase after weeks of inactivity.
According to the company’s founder, Michael Saylor, they announced last week that they purchased 4,603 BTC for $370 million.
According to Saylor’s statement, the company increased its cash reserves in US dollars by $29 million during the same period, while repurchasing approximately $152 million worth of STRC shares.
Strategy’s Bitcoin Reserve Exceeds 845,000 BTC!
With this latest purchase, Strategy’s total Bitcoin holdings have risen to 845,050 BTC.
As part of its Bitcoin treasury strategy, which began in 2020, the company has become one of the world’s largest institutional Bitcoin holders.
Cash Reserves Also Increased!
Another notable detail in Saylor’s statement was that the company not only bought Bitcoin but also strengthened its cash position.
Strategy increased its USD cash assets by $29 million. The company reportedly had approximately $6.71 billion in USD assets as of August 30.
As is known, the company has previously sold Bitcoin to finance dividend payments and support its cash reserves.
Buyback on STRC Shares!
Strategy also repurchased approximately $152 million worth of STRC shares.
This move demonstrates that the company continues to manage its capital structure alongside its Bitcoin purchases. STRC stands out as one of Strategy’s series of variable-rate preferred stocks.
*This is not investment advice.
