Strategy Resumes Bitcoin Treasury Building With $370M Purchase

Strategy Breaks Two-Month Buying Pause

Michael Saylor’s Strategy has reactivated its corporate Bitcoin accumulation program following a two-month interval since its last major purchase, according to an SEC filing released Monday. The company acquired 4,603 Bitcoin at an average cost of $80,318 per coin, representing a $370 million capital deployment. This transaction stands as a significant moment for institutional Bitcoin adoption, demonstrating sustained corporate appetite for Bitcoin even as the market cycles through different price regimes.

Strategy’s total Bitcoin holdings have now expanded to 845,050 BTC, collectively representing $63.3 billion in lifetime capital expenditures at an average acquisition cost of $75,413 per coin. The sheer scale of these holdings positions Strategy as one of the most significant non-sovereign Bitcoin holders globally. This latest acquisition follows a methodical accumulation strategy, building on purchases made throughout preceding months, with the previous major acquisition occurring in mid-June when the company obtained approximately 1,587 Bitcoin.

Saylor Signals Renewed Conviction

Strategy’s resumption of Bitcoin buying gained additional weight from a carefully timed message from company executive chairman Michael Saylor. Over the weekend, Saylor posted the cryptic phrase “We’re Back” on social media—a signaling mechanism that market observers have come to recognize as a precursor to significant treasury announcements from the company. This public messaging, coupled with immediate execution on Bitcoin purchases, underscores Saylor’s continued confidence in Bitcoin’s long-term value proposition and his belief that current price levels warrant continued accumulation.

The two-month pause in purchases had prompted speculation about the company’s commitment to its Bitcoin strategy. Saylor’s swift return to accumulation, announced through both regulatory filings and social media channels, dispels any doubts regarding Strategy’s long-term conviction in Bitcoin as a treasury asset.

Strategic Capital Deployment and Market Response

Strategy funded this acquisition through a $602 million secondary offering of its common stock, demonstrating the company’s ability to efficiently access capital markets to finance Bitcoin purchases. Beyond Bitcoin acquisition, the company strategically allocated $30 million to increase its USD cash reserves and deployed $151.8 million toward repurchasing shares of its perpetual preferred stock, STRC. This diversified capital deployment reflects a balanced approach to combining Bitcoin accumulation with shareholder return initiatives.

Strategy’s preferred stock, STRC, traded at $97.33 in pre-market activity Monday, representing a 2.67 percent discount to its $100 par value. The company’s capital framework permits Bitcoin sales to fund dividends on preferred shares while maintaining elevated dividend rates. In June, Strategy had previously disclosed a modest Bitcoin sale of 32 coins and increased the annual dividend rate on STRC to 12 percent, establishing a sustainable mechanism for ongoing Bitcoin acquisition while rewarding preferred shareholders.

For the broader cryptocurrency ecosystem, institutional Bitcoin purchases at this scale signal enduring market confidence and suggest that Bitcoin’s emergence as a corporate treasury asset class has matured beyond a novelty phase.

Source: SEC, via Cointelegraph. Not financial advice.