Michael Saylor’s Strategy Continues Bitcoin-Buying Spree, Adds $22,000,000 Worth of BTC

The Bitcoin treasury firm Strategy (MSTR) has stacked BTC for four weeks in a row, adding $22 million worth of the top crypto asset in the past seven days.

Strategy says it accumulated 250 Bitcoin at an average purchase price of $86,194 per BTC, stretching its total holdings to 848,250 BTC.

The firm added 2,949 Bitcoin in the three weeks leading up to that latest purchase, spending a total of $248 million.

The recent purchase follows a summer in which Strategy conducted its first Bitcoin sales since 2022. Those sales materialized under the company’s newly introduced BTC monetization program, designed to bolster Strategy’s cash reserves and support dividend payments.

On Monday, Strategy chairman Michael Saylor also noted the firm repurchased $192 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $99.89.

Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate BTC holder by a wide margin.

The summer’s sales marked a dramatic shift in tone for the firm after Saylor spent years encouraging investors to “never sell” their BTC.

Now, however, Saylor maintains that vocal never-sell approach was just in reference to his personal wallet.

“When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine. Not one satoshi. Strategy is a public company, not my wallet. Since 2020, it has disclosed it may buy or sell BTC to manage capital. Our shared conviction in Bitcoin remains unchanged.”

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The post Michael Saylor’s Strategy Continues Bitcoin-Buying Spree, Adds $22,000,000 Worth of BTC appeared first on The Daily Hodl.