Strategy is back in the bitcoin market. The company bought 4,603 BTC for $369.7 million during the week ended Aug. 30, according to a Monday filing. That works out to an average price of $80,318 per coin — and it ends a 10-week stretch without a single purchase.
The numbers behind the buy
The filing, submitted Monday, covers the week through Aug. 30. Strategy paid $369.7 million in cash, and the average price of $80,318 reflects the market's recent range. The company didn't say why it paused for 10 weeks, but the gap is the longest in its recent buying pattern.
A new playbook
This is the first purchase under a balance-sheet overhaul Strategy adopted in June. The company hasn't detailed the changes, but the timing suggests the new framework is now in place. The overhaul was designed to give Strategy more flexibility in how it funds bitcoin acquisitions, though specifics remain under wraps.
The next filing
Strategy reports its bitcoin holdings every Monday. The next filing will show whether the company kept buying into September. Given the size of this purchase, the market will be watching for a follow-up.
