Strategy is back in the buying saddle. The firm disclosed Tuesday it purchased 1,587 Bitcoin for roughly $100 million, marking its first announced acquisition since a small sale in late May broke a multi-year consecutive buying streak. The latest buy was executed below Strategy's blended cost basis, suggesting the company saw a window it didn't want to miss.
Back in the buying game
Strategy's buying spree had been uninterrupted for years — until May 2024, when it sold a small number of coins. That divestment was tiny relative to its hoard, but it snapped a run of steady accumulation that had made Strategy the largest corporate Bitcoin holder. This week's purchase signals that the pause was temporary. The company has now resumed its pattern of regular buys, albeit after a gap of about three weeks.
Below the average
The $100 million purchase came in below Strategy's blended cost basis, which means the firm added to its stack at a discount to what it has paid historically. For a company that has often bought near highs, that's a notable detail. It suggests management saw the dip as a chance to improve its average entry price rather than chase momentum. The exact average cost basis wasn't disclosed, but the below-basis price point is a clear signal of strategic timing.
Holdings creep higher
With the latest acquisition, Strategy now holds 846,842 Bitcoin. The company has spent billions over the past few years building that position, and the pace hasn't let up — aside from that brief May hiccup. The total is worth tens of billions at current market prices, making Strategy effectively a Bitcoin proxy stock. Whether the buying continues at the same clip is anyone's guess, but the May sale now looks like an outlier rather than a change of heart.
