Strategy resumes bitcoin purchases as BTC climbs to $84,500

Strategy made its first bitcoin purchase since late August, acquiring 950 BTC for $75.7 million last week at an average price of $79,670 per coin. A Monday morning regulatory filing said the purchase was funded through the sale of $80.1 million of common stock. The remaining proceeds were used to repurchase $4.4 million of the company's STRC preferred stock and bolster its cash reserves. Led by Executive Chairman Michael Saylor, Strategy now holds 846,000 BTC acquired for a total of $63.81 billion at an average price of $74,417 per coin. Strategy shares were up 7% early Monday and rose 7% in pre-market trading as bitcoin climbed to $84,500. Bitcoin had gained 4.5% over the previous 24 hours.