Strategy buys $370M Bitcoin in first corporate purchase since June

Michael Saylor’s Strategy acquired 4,603 Bitcoin for $370 million, marking the first acquisition from the largest corporate Bitcoin holder in two months.Strategy acquired 4,603 Bitcoin (BTC) at an average purchase price of $80,318, pushing its holdings to 845,050 BTC, acquired for a total of $63.3 billion at an average price of $75,413, according to a Monday 8-k filing with the Securities and Exchange Commission.The Bitcoin purchase was funded by the net proceeds of a 602 million MSTR common stock sale. The company used $30 million of the net proceeds to increase its USD Cash reserve and $151.8 million to repurchase its preferred STRC stock.Nasdaq-traded MSTR was up less than 1% in Monday’s pre-market activity, after dropping more than 7% on Friday. The move marks Strategy’s first corporate Bitcoin acquisition since mid-June, when the company last acquired 1,587 BTC for roughly $100 million. On Sunday, Strategy’s co-founder and executive chairman, Michael Saylor, signaled that the company will resume accumulating Bitcoin, tweeting “We’re Back” in a widely viewed X post. Saylor has been known for posting cryptic weekend teasers before official announcements of the company’s larger t...