Strategy buys $370 million of Bitcoin in first purchase since June

Strategy bought 4,603 BTC for $369.7 million in the week to August 30. This was its first Bitcoin purchase since June. The purchase price averaged $80,318 per BTC. Strategy's holdings now total 845,050 BTC. The holdings cost $63.73 billion. The average purchase price for the holdings is $75,412 per BTC. Strategy sold 4,531,421 MSTR shares through its at-the-market program during the same week. The share sale raised $602.8 million after commissions. Strategy used $369.7 million for Bitcoin purchases. It used $151.8 million for STRC buybacks. It paid $50.7 million in dividends on the same preferred stock. It placed $30 million in its USD Cash account. Strategy sold 6,948 BTC for about $432.5 million between May and August. The sales averaged about $62,250 per BTC. The company bought back the Bitcoin at an average price about 29% higher. Strategy now holds 2,345 fewer BTC than before the sales began. About $63 million of the difference remains in cash. STRC fell below its $100 par value in June. That ended a funding route Strategy had used for Bitcoin purchases. Strategy then created a Digital Credit Capital Framework that authorized up to $1.25 billion in Bitcoin sales. The framework covered dividends and discounted buybacks of preferred shares. Strategy resumed buying after MSTR recovered enough to make equity the cheaper funding option. The USD Reserve stood at $5.10 billion on August 30. The reserve is ring-fenced for preferred dividends and debt interest. The unrestricted USD Cash account stood at $1.61 billion. The combined $6.71 billion put net leverage at 0.0%, Strategy said. Strategy also repurchased 1,557,177 STRC shares for $151.8 million during the week. The company had $364.8 million remaining under its $1 billion digital credit repurchase authorization. A separate $1 billion authorization to buy back MSTR stock remained unused.