Strategy has resumed buying bitcoin, picking up 1,550 BTC for approximately $101 million — its first purchase since the company briefly sold bitcoin in late May.
Back to buying
Executive Chairman Michael Saylor announced the acquisition on Monday, confirming the purchase brought Strategy’s total holdings to 845,256 BTC.
The buy came at an average price of $65,332 per bitcoin, which sits below the company’s overall average acquisition cost of $75,680.
Price falling
The purchase follows a turbulent stretch for bitcoin, which fell roughly 15% last week and briefly dipped below $60,000 before recovering above $62,000.
That decline came at least partly after Saylor sold 32 BTC for $2.5 million on June 1 — a rare move that drew significant attention from the market.
How the purchase was funded
To fund both the bitcoin buy and a cash reserve boost, Strategy issued $181 million of common stock during the period.
The company also disclosed it increased its U.S. dollar reserves by $100 million, bringing total cash on hand to $1 billion.
Following the purchase, Strategy holds 845,256 BTC acquired for just under $64 billion in total.
