Strategy plans to resume Bitcoin purchases by the end of the year, the company said. The firm halted its buying in late June, but it remains a massive net buyer, having purchased about 175,000 BTC since the start of the year and sold roughly 7,000 — a 25x net buyer ratio.
A summer pause
The halt came in late June. Proceeds from a recent sale were used to support preferred stock dividends, share repurchases, and the USD reserve, which now sits above $4.6 billion. That suggests the company was managing its cash position rather than stepping away from Bitcoin.
The par-price pivot
CEO Phong Le said the firm has turned its complete attention to pushing STRC to the par price of $100. That's a shift from the previous primary objective of increasing Bitcoin per share. STRC shares have rebounded from $75 lows but still close just over $95, below par. The statement drew questions from analysts and commentators.
Back to buying
The plan to resume purchases by year-end is the next concrete step. The company hasn't said exactly when, but the market will be watching for the first buy.
