The company’s bitcoin buys were gradually declining over the past month, until they completely disappeared.
ByJordan Lyanchev
While Matt Cole’s Strive just executed its single-largest bitcoin purchase to date, Michael Saylor’s Strategy has remained on the sidelines.
Instead, the NASDAQ-listed business intelligence software firm has doubled down on its STRC repurchasing efforts, as the stock’s price tumbled once again last week.
https://x.com/saylor/status/2114701492443635943
Strategy resumed its BTC purchases in mid-September, buying
Strategy resumed its BTC purchases in mid-September, buying over $140 million worth of the crypto asset during the week that ended on September 27. However, there was an evident slowdown in the following three weeks, as the bitcoin buys fell to under $30 million each.
This culminated last week, when Saylor’s company refrained from buying any BTC, while, as mentioned above, Strive spent more than $510 million on its biggest weekly acquisition.
Strategy continues to hold 848,517 BTC, purchased at an average price of $75,446 per unit. It was acquired for $64 billion, and the firm is slightly in the green on its massive position as of now.
Saylor’s brainchild continues to repurchase its STRC preferred stock, spending $205 million in the past week. Recall that STRC’s price dipped below $98 once again last week, slightly below its par level of $100. However, it rebounded in the following days and closed on Friday at over $99.
