PiCK
Strategy Buys 4,603 More Bitcoin for $370 Million, Lifting Holdings to 845,050 BTC
Summary
- Strategy said it bought an additional 4,603 Bitcoin last week for $370 million, lifting its total Bitcoin holdings to 845,050 BTC.
- Strategy said it holds 845,050 Bitcoin and $6.71 billion in dollar assets, and increased its dollar reserves by $29 million last week.
- Strategy said it also repurchased $152 million of STRC preferred stock during the same period, bringing net leverage to 0.0% and further strengthening STRC’s financial structure.
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Strategy said it bought 4,603 Bitcoin last week for $370 million, raising its total holdings to 845,050 BTC.
Michael Saylor, the company’s chairman, disclosed the purchase in a post on X on Aug. 31. As of Aug. 30, Strategy held 845,050 Bitcoin and $6.71 billion in dollar assets.
Those assets consisted of $5.1 billion in dollar reserves and $1.61 billion in cash. The company increased its dollar reserves by $29 million last week.
Strategy also repurchased $152 million of its STRC preferred stock during the same period. It said the move brought net leverage to 0.0%.
Saylor said the step further strengthened STRC’s financial structure. He added that the company’s “USD duration,” which indicates how long it can cover dividends using its dollar assets, increased by 23 days to 4.0 years.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.