Strategy resumed its bitcoin purchasing activity last week, buying nearly $370 million of the leading cryptocurrency, according to a Securities and Exchange Commission filing announced Monday.
Between August 24 and August 30, Strategy acquired 4,603 bitcoins for $369.7 million, with each coin purchased at an average price of $80,318, according to the filing.
The purchase ends a buying pause that began in June, during which the company focused on building cash reserves, repurchasing its own stock, and occasionally selling holdings.
Strategy now maintains $5.1 billion in its USD Reserve and $1.61 billion in its newly announced USD Cash reserve. The company holds 845,050 bitcoins valued at $65.8 billion at current market prices.
The software company, formerly known as MicroStrategy, began accumulating bitcoin in August 2020 as a treasury strategy. It has spent more than $63.7 billion on bitcoin purchases since then and remains the world's largest corporate holder of the cryptocurrency.
The company's approach has influenced other businesses to adopt similar crypto-treasury strategies. Strategy's leadership has indicated the company is now developing digital credit products backed by its bitcoin holdings.
Strategy's stock traded slightly higher Monday morning and has declined nearly 20% year-to-date. Bitcoin was trading at $77,821 on Monday morning, having reached a high of $81,281 the previous week.
