Strategy buys 4,603 Bitcoin for $370 million

Strategy purchased 4,603 Bitcoin for $369.7 million between 24 and 30 August, at an average price of $80.318 per coin. This brings the company’s total Bitcoin holdings to 845,050 BTC, for which a total of $63.73 billion has been paid at an average purchase price of $75.400. Bitcoin is trading around $78.500 at the time of writing, roughly 0.3% lower than a day earlier.

Bitcoin is available at OKX and Bybit.

In brief:

• Strategy bought 4,603 BTC for $369.7 million between 24 and 30 August
• The total Bitcoin position now stands at 845,050 BTC, purchased for $63.73 billion
• Strive also expanded its position with 1,800 BTC for approximately $143 million

Purchases financed through share sale

The purchases were financed through the sale of MSTR shares, which generated $602.8 million in net proceeds that week. In addition, Strategy used $151.8 million to buy back its own STRC preferred shares.

Strategy’s USD Reserve amounted to $5.10 billion at that time, while the cash position came to $1.61 billion. The realised cap of Bitcoin has already risen by $46 billion over the past week, indicating that more capital is actively flowing into the market.

Strive also expands Bitcoin position

Strategy is not the only company expanding its Bitcoin position. Strive, the investment firm led by CEO Matt Cole, also bought additional Bitcoin. Cole reports that Strive purchased 1,800 BTC for approximately $143 million, at an average price of $79.431 per coin.

This brings Strive’s total Bitcoin holdings to 23,156 BTC. Both companies thus bought their Bitcoin at a price above the current trading level of $78.500, meaning they are currently at a small loss relative to their most recent purchases.