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Strategy resumes bitcoin purchases as BTC rallies back to $84,500
CoinDesk • • business
Key Points:
- Strategy MSTR purchased 950 BTC for $75.7 million last week at an average price of $79,670 per coin, marking its first bitcoin acquisition since late August.
- The bitcoin purchase was funded through the company's USD reserve, which currently stands at $5 billion, with an additional $1 billion in USD cash available.
- Strategy used $174 million of USD cash to repurchase STRC shares and $57.4 million to pay dividends on preferred stock.
- Led by Executive Chairman Michael Saylor, the company now holds 846,000 BTC, acquired for a total of $63.81 billion at an average price of $74,417 per coin.
- Following the bitcoin purchase and a rise in bitcoin price to $84,500, Strategy MSTR shares increased by 7% in pre-market trading.
