Michael Saylor’s Strategy Resumes Bitcoin Purchases, Adding $370,000,000 Worth of BTC

The Bitcoin treasury firm Strategy (MSTR) is buying BTC again.

Strategy accumulated 4,603 Bitcoin at an average purchase price of $80,318 per BTC, spending a total of $370 million.

It’s the firm’s first BTC purchase since June 22nd, following two weeks where the firm didn’t add or sell any Bitcoin.

Strategy has also hawked a total of $432 million worth of Bitcoin across five separate sales stretching back to May. The sales materialized under the firm’s newly introduced BTC monetization program, designed to bolster Strategy’s cash reserve and support dividend payments.

Strategy chairman Michael Saylor noted Monday that the firm increased its US dollar reserve by $29 million in the past week. It also repurchased $152 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 but is currently trading at $96.66.

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 have 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 Resumes Bitcoin Purchases, Adding $370,000,000 Worth of BTC appeared first on The Daily Hodl.