Strategy (MSTR) Resumes Bitcoin (BTC) Purchases After One-Week Break

▲ Bitcoin (BTC), Strategy (MSTR)/AI-generated image

Strategy (MSTR) has resumed its Bitcoin (BTC) purchases with 810 BTC after a one-week break.

According to crypto media outlet CryptoPotato on November 2 (local time), Strategy, the world's largest corporate Bitcoin holder, which had paused purchases last week, bought a relatively small 810 BTC for $65.5 million. The average purchase price was slightly less than $81,000. Its total holdings increased to an all-time high of 849,327 BTC. The company stated that it raised $164 million by selling 1.18 million shares of MSTR stock, allocating nearly $100 million of that to its dollar reserves. Strategy repurchased $208.2 million worth of STRC preferred stock last week. Its dollar reserves are close to $4.8 billion, with an additional $132.7 million in dollar cash.

Michael Saylor posted a hint about purchases on X (formerly Twitter) the day before. He did not buy Bitcoin the previous week. During the same period, Strive made its largest-ever purchase, buying 6,182 BTC. Strategy instead poured funds into STRC redemptions, and the STRC price recovered to within 1% of its face value of $100.

The company announced a third-quarter net income of $19.5 billion but somewhat surprisingly stated that its long-serving Chief Financial Officer (CFO), Andrew Kang, would depart on November 5. Kang also served as Senior Vice President, Chief Financial Officer, and Chief Accounting Officer.

[Key Article Summary]

-Strategy bought 810 BTC for $65.5 million, bringing its total holdings to an all-time high of 849,327 BTC.

-It raised $164 million by selling 1.18 million MSTR shares, repurchased $208.2 million in STRC, and has dollar reserves of approximately $4.8 billion.

-Following the announcement of a $19.5 billion net income in Q3, CFO Andrew Kang will depart on November 5.

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