Strategy said Monday that it bought 1,550 Bitcoin for $101 million, a return to business as usual after a liquidation triggered the firm’s worst weekly performance since November 2022.
The Tysons Corner, Virginia-based firm signaled in an SEC filing that it now owns 845,256 Bitcoin
With the digital asset changing hands around $63,000, a 1.4% increase over the past day, Strategy’s stockpile was worth roughly $53.3 billion, according to CoinGecko. The Bitcoin-buying firm’s shares rose 3.4% to above $124 following Monday’s opening bell, according to Yahoo Finance. Last week, shares tumbled 24%, following the company’s disclosure that it had parted with the digital asset for the first time in more than three years.
The sale, which totaled 32 Bitcoin for $2.5 million, represented a small slice of the company’s overall stockpile, yet the move tested faith in co-founder and Executive Chairman Michael Saylor, along with his vision for the digital asset’s largest corporate holder. Strategy indicated in Monday’s filing that the company padded its cash reserves. Although the company’s latest purchase marked its largest in three weeks, the company pocketed roughly $80 million for the purpose of managing dividend payments and debt obligations.