Strategy, the business intelligence firm, bought $370 million worth of Bitcoin this week. The purchase of 4,603 BTC at an average price of $80,318 is its first since June, and it comes at a price 29% above what the company fetched when it sold some of its holdings over the summer.
First buy since June
Strategy had gone quiet on the Bitcoin front for a couple of months. Its last purchase was in June, and during the summer it sold some of its coins. That sale was notable because the company had been a steady buyer. The new purchase flips that script. It's the first time since June that Strategy has added to its stack, and the size of the buy — $370 million — is nothing to sneeze at.
The company didn't say why it paused or why it's back now. But the timing is interesting. The purchase comes at a price that's 29% higher than the average price at which it sold during the summer. That means Strategy is paying a significant premium to what it got for its coins just a few weeks ago.
The price tag
At $80,318 per coin, Strategy is paying a hefty price. The company's average cost basis across its entire Bitcoin holdings is likely much lower, but this particular buy is at a level that's well above the summer sale price. The 29% gap between the sale and the new purchase is a big swing in a short period.
It's also a sign that Strategy sees value at these levels. The company has been a consistent Bitcoin buyer, and this purchase suggests that conviction hasn't wavered. Whether the price holds is another question, but Strategy is putting real money behind its thesis.
Back to accumulation
Strategy hasn't announced any further purchase plans. The company's next move will depend on its cash position and the price of Bitcoin. But this buy is a clear signal that the accumulation phase is back on. After a summer of selling, Strategy is buying again — and at a higher price.
The company didn't disclose its total Bitcoin holdings in this announcement, and it hasn't said whether more purchases are coming. For now, the $370 million buy stands as a statement of intent.
