Strategy resumed its Bitcoin acquisition campaign with a purchase of 950 BTC valued at roughly $75.7 million, marking the firm's first buy since late August. According to an SEC filing dated September 21, the company now holds 846,000 Bitcoin in total.
The entirety of Strategy's Bitcoin holdings were accumulated for a combined cost of $63.8 billion. Between September 14 and 20, the firm did not offload any shares through its at-the-market stock program.
Strategy's balance sheet position has improved considerably. The company transitioned from $10 billion in unrealized losses weeks earlier to $8 billion in unrealized gains as Bitcoin traded above $80,000.
Shifting ETF Dynamics
Fidelity's spot Bitcoin ETF (FBTC) overtook BlackRock's spot Bitcoin ETF (IBIT) in recent ETF flows, a significant reversal from two weeks prior when IBIT led by nearly 6x. On September 18, FBTC attracted $306 million in inflows, nearly three times the amount received by IBIT, coinciding with Bitcoin climbing toward $81,000.
Regulatory Commentary
Michael Saylor recently commented on the rejection of the CLARITY Act, expressing optimism about the regulatory landscape. He suggested that cryptocurrency companies are better served pursuing workable guidance from the SEC, CFTC, and Treasury rather than accepting compromise legislation. Saylor advised stakeholders to focus on building and growing adoption over the next couple of years while regulators develop laws using existing authority.
