Strategy bought 4,603 bitcoin for $369.7 million between August 24 and 30, its first purchase since June, ending a 10-week selling streak even as its stock trades below the value of its own treasury.
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Transcript
Strategy just bought back into bitcoin, and the timing is strange. The company spent ten straight weeks selling coins to cover dividends on its preferred stock. Then, between August twenty fourth and thirtieth, it reversed course and bought four thousand six hundred three bitcoin for three hundred seventy million dollars. Average price: eighty thousand three hundred eighteen dollars a coin. Strategy did not use cash. It sold new shares of its own stock to pay for the bitcoin, and right now that stock trades below the value of the bitcoin it already holds. Selling equity at a discount to buy more bitcoin only makes sense if the discount is temporary. Saylor is betting it is. The treasury now sits at eight hundred forty five thousand fifty bitcoin, still the biggest corporate stack on the planet.