Strategy buys $370M in Bitcoin, ending a two-month pause

Strategy bought Bitcoin again. The company acquired 4,603 BTC for roughly $370 million, its first corporate purchase in two months, according to a Monday 8-K filing with the SEC, Cointelegraph reported.

The purchase followed a familiar pattern. On Sunday, Strategy co-founder and executive chairman Michael Saylor posted the tweet above, a two-word teaser he's used before ahead of larger treasury announcements. By Monday morning, the filing confirmed what the market suspected.

The average purchase price came to $80,318 per coin, pushing Strategy's total holdings to 845,050 BTC, bought for a cumulative $63.3 billion at an average cost basis of $75,413. Net proceeds from a 602 million MSTR common stock sale funded the buy, with the company routing $30 million into its USD cash reserve and $151.8 million into repurchasing its STRC preferred stock.

• This purchase: 4,603 BTC for ~$370M, average price $80,318
• Total holdings: 845,050 BTC
• Total cost basis: $63.3B, average price $75,413
• STRC buyback: $151.8M
• STRC price: $97.33, a 2.67% discount to $100 par
• STRC annual dividend rate: 12%
• Last sale: 32 BTC in early June, Strategy's first reported sale since a 2022 tax-loss transaction

Nasdaq-listed MSTR shares rose less than 1% in Monday's pre-market trading, a modest recovery after the stock dropped more than 7% on Friday. It's Strategy's first Bitcoin acquisition since mid-June, when it bought 1,587 BTC for roughly $100 million, a pause Intokened tracked as the company posted a return to profit on the back of Bitcoin's rally.

STRC itself gained 0.44% in Monday's pre-market activity to $97.33, still trading below its $100 par value. That gap matters beyond the sticker price: STRC is one of Strategy's core funding tools for buying Bitcoin, and trading below par limits how much the company can raise through new STRC sales. It may also push Strategy toward a higher dividend rate to keep buyers interested and defend the stock's price, on top of the 12% rate the company already set in a June 29 filing that opened the door to funding dividends with Bitcoin sales.

The pieces fit a pattern that's become familiar: raise cash through stock sales, patch the balance sheet, tease a comeback on social media, then confirm it with a filing. Whether this marks a genuine return to steady accumulation or a single opportunistic buy depends on what Strategy's next 8-K says. The company has surprised the market both ways before, going quiet for months and then running back-to-back weeks of purchases once the balance sheet allows it.

This article is for informational purposes only and does not constitute investment advice.