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Saylor’s Strategy Buys Another 1,665 BTC in Second Consecutive Weekly Purchase

The purchase from last week wasn't a one-time thing, it appears.

The world’s largest corporate holder of bitcoin seems to have returned to the BTC-buying scene in full force after the summer hiatus, with a second major weekly acquisition in a row announced just minutes ago.

The company’s co-founder and former CEO, Michael Saylor, who hinted about the purchase on X yesterday, announced the firm has scooped up 1,665 BTC over the past week. The average accumulation price was at $85,681.

The firm’s total BTC holdings have skyrocketed to 847,666, acquired for nearly $64 billion. The cryptocurrency’s major price expansion in the past six weeks or so has put that stash well in the green, currently valued at more than $70 billion.

In addition to the bitcoin acquisition, Strategy has repurchased another $152 million worth of STRC, and it still sits on a USD cash reserve of just over $6 billion.

Recall that Strategy took a three-week pause from the end of August until last Monday, when it outlined the acquisition of 950 BTC for $75.7 million at an average price of just under $80,000 per unit. As such, the firm has mostly offset all the sales it completed during the summer.

The interesting part is that Strategy sold at prices of well under $65,000, while its latest acquisitions came at $80,000 or above.

Meanwhile, the price of its STRC stock continues to hover at around $98.50 after it recovered a lot of ground from the dump to $75 during the summer.

The post Saylor’s Strategy Buys Another 1,665 BTC in Second Consecutive Weekly Purchase appeared first on CryptoPotato.

Original Source: CryptoPotato (Crypto & Financial Markets)

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