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Michael Saylor’s Strategy Buys the Dip, Acquiring $66,000,000 Worth of Bitcoin (BTC) in the Past Week
Bitcoin’s price dipped over the past week, but the BTC treasury firm Strategy (MSTR) still opted to buy $66 million worth of the top crypto asset. Strategy says it accumulated 811 Bitcoin at an average purchase price of $80,846 per BTC, stretching its total holdings to 849,327 BTC.
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Strategy, the bitcoin treasury company led by Michael Saylor, bought 811 BTC last week at an average of $80,846 each, about $66 million, despite a dip in bitcoin's price. Its holdings now total 849,327 BTC. It had made no purchases or sales the week before, after adding 3,466 BTC across five straight weeks from September into October. Over the summer, the firm made its first bitcoin sales since 2022 under a newly introduced program meant to bolster cash reserves and support dividends. On Monday, according to Saylor, the company bought back $208 million of its STRC preferred stock, which pays a 12.00% annual dividend and trades at $99.28 against a par value of about $100. At writing, bitcoin was at $76,751, down nearly 1.5% over 24 hours.
Why it matters: It shows a major corporate holder still adding bitcoin while using preferred stock and earlier sales to manage its cash and dividend obligations.
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