Strategy resumes Bitcoin purchases with $370 million acquisition after summer selloff
Strategy, the largest corporate Bitcoin holder, bought $370 million worth of Bitcoin at an average price of about $80,300 per coin, its first purchase in two months. The company funded the buy through new share sales and used remaining proceeds for dividends and share repurchases. The move comes as Bitcoin rebounds above $78,000 after a prolonged downturn.
The purchase marks Strategy's first Bitcoin acquisition since June, ending a period when the company was forced to liquidate roughly $544 million in holdings across four separate sales to meet financial obligations. Those sales represented a notable departure from the firm's longstanding "never sell" position, which had defined its accumulation strategy through previous market cycles.
Strategy's funding approach has shifted considerably. The company now relies on proceeds from new MSTR share issuances rather than debt, and has introduced STRC, a dividend-paying share class, to attract income-focused investors. The firm also set aside $30 million in cash reserves and used funds for dividend payments and share repurchases, reflecting a more cautious posture after months of pressure.
This development could signal a turning point for corporate Bitcoin adoption, as Strategy's summer struggles raised questions about the sustainability of aggressive accumulation strategies during prolonged downturns. The company's ability to resume purchases may reassure other institutional investors considering cryptocurrency exposure, though the reliance on new share sales to fund acquisitions could continue to pressure MSTR shareholders, who have already experienced significant losses. The outcome may influence how