Strategy returns to bitcoin buys, adding $370 million worth last week

Strategy MSTR$129.49·At close made its first bitcoin purchases since late June, adding 4,603 coins for $369.7 million last week, or an average price of $80,318 each.

The acquisition was funded via the sale of $602.8 of common stock, according to a Monday morning press release. The remaining proceeds went toward $151.8 million in buybacks of the company’s STRC preferred stock and to add to Strategy’s cash reserves.

Led by Executive Chairman Michael Saylor, the company now holds 845,050 bitcoin purchased for $63.73 billion, or an average price of $75,412 each.

MSTR is up 1.65% pre-market as bitcoin trades at $78,400, up marginally from late Friday.