In brief – Strategy shares pared losses after it purchased 1,550 Bitcoin for $101 million, boosting its total holdings to 845,256 BTC. – The company grew its cash position back to $1 billion after depleting most of that stockpile to repurchase debt weeks ago. – The move follows…
e company’s first Bitcoin sale in years, which triggered its worst weekly performance since November 2022. 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.