Strategy returns to bitcoin buys, adding $75 million of BTC last week

Strategy made its first bitcoin purchase since late August, adding 950 BTC last week at an average cost of $79,670 per coin, spending $75.7 million in total. According to a Monday regulatory filing, the company funded the bitcoin acquisition with USD cash from its balances. The filing detailed other cash uses during the period: Strategy deployed $174 million of USD cash to repurchase its STRC shares and tapped $57.4 million of its USD reserve to pay preferred stock dividends. After these moves, the company's USD reserve stood at $5 billion and its USD cash at $1 billion. Led by Executive Chairman Michael Saylor, Strategy now holds 846,000 BTC acquired for a cumulative $63.81 billion, which implies an average purchase price of $74,417 per bitcoin across its holdings. The recent buy breaks a roughly three-week pause in weekly purchases. Market reaction saw Strategy's shares rise about 7% in pre-market trading as bitcoin traded near $84,500, a roughly 4.5% increase over the prior 24 hours. The company’s continued accumulation and allocation choices remain a focal point for investors given the size of its bitcoin position.