Strategy resumes Bitcoin purchases with $370 million BTC buy

Strategy resumed Bitcoin purchases by acquiring 4,603 Bitcoin for $370 million. The average purchase price was $80,318 per Bitcoin. The purchase was Strategy's first since June 22. Strategy did not buy or sell Bitcoin during the preceding two weeks. Strategy sold $432 million of Bitcoin across five sales since May. The sales occurred under Strategy's BTC monetization program. The program is designed to increase Strategy's cash reserve and support dividend payments. Strategy chairman Michael Saylor said Monday that Strategy increased its US dollar reserve by $29 million during the past week. Strategy also repurchased $152 million of STRC. STRC is Strategy's perpetual preferred stock. STRC pays 12.00% annual dividends. STRC is designed to have a par value of about $100. STRC was trading at $96.66. Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset. Strategy remains the world's largest corporate holder of Bitcoin by a wide margin. Saylor said his calls to never sell Bitcoin referred to his personal wallet. Saylor said he has never sold his own Bitcoin, including one satoshi. Saylor said Strategy is a public company rather than his personal wallet. Strategy has disclosed since 2020 that it may buy or sell Bitcoin to manage capital. Saylor said Strategy's conviction in Bitcoin remains unchanged.