Michael Saylor’s Strategy Resumes Bitcoin Buying After 10-Week Pause – MSTR Stock Eyes Best Month Since November 2024

Over the past week, Strategy bought around 4,600 BTC for roughly $370 million.

• The company funded the purchase with proceeds from the sale of about 4.5 million MSTR shares through its ATM program.
• Strategy now holds 845,050 BTC, at an average cost of $75,412 per Bitcoin.
• Strategy's latest purchase was at an average price of $80,318 per BTC, above its overall average cost.

Shares of Michael Saylor-backed Strategy (MSTR) rose in early morning trade on Monday, on track to post their best monthly gains in 21 months, after the company announced on Monday that it had resumed buying Bitcoin (BTC) after a 10-week pause.

In an 8-K filing with the Securities and Exchange Commission (SEC), Strategy said it had bought about 4,600 BTC for about $370 million over the past week. The BTC purchases were funded with proceeds from at-the-market (ATM) sales of Class A common stock.

The company sold around 4.5 million MSTR shares for approximately $602.8 million. Around $370 million went towards buying Bitcoin, while $151 million was used to repurchase its ‘Stretch’ preferred stock (STRC) and $50.7 million went towards funding STRC dividends. The remaining $30 million was added to the company’s newly created ‘USD Cash’ pool. 

MSTR stock rose as much as 1.8% in pre-market trade, on track to post its largest monthly gain since November 2024. On Stocktwits, retail sentiment around the Bitcoin treasury slipped to ‘bullish’ from ‘extremely bullish’ over the past day.

Strategy’s Bitcoin Holdings

Strategy's latest addition to its Bitcoin stash was acquired at an average price of $80,318 per BTC, bringing total holdings to 845,050 BTC. The aggregate purchase price stands at around $63.73 billion, with an average cost of $75,412 per bitcoin. The company continues to hold roughly 4% of the total bitcoin supply. 

This is Strategy’s first reported Bitcoin purchase since June 22, when it added 520 BTC. In the weeks that followed, it sold coins under its BTC monetization program, then reported no purchases or sales for several consecutive weekly filings while it built the USD Reserve and launched USD Cash. 

Bitcoin’s price edged 0.5% lower in the last 24 hours, trading at around $78,100. On Stocktwits, retail sentiment around the apex cryptocurrency trended in ‘bullish’ territory over the past day, with chatter at ‘high’ levels.

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