Strategy resumes Bitcoin purchases with $370 million buy after two-month pause
Strategy purchased $370 million in Bitcoin at an average price of roughly $80,300 per coin, its first acquisition in two months, as the cryptocurrency rebounds from a prolonged bear market.
Strategy has resumed its Bitcoin acquisition program with a $370 million purchase, ending a two-month pause in buying activity. The company, which identifies as the world's largest digital asset treasury, disclosed the transaction in a Monday filing with the Securities and Exchange Commission, noting it acquired the cryptocurrency at an average price of roughly $80,300 per Bitcoin.
The purchase comes as Bitcoin stages a recovery after spending most of the previous ten months in a bear market. The cryptocurrency jumped more than 23% in a single day on Aug. 21, reclaiming $79,000 for the first time since May, according to crypto data aggregator CoinGecko. Bitcoin was trading at approximately $78,800 on Monday, and the recent rally has pushed the value of Strategy's holdings back above what the company originally paid for them, reversing a trend of steep paper losses.
Strategy shares rose nearly 3% following the announcement and were trading at about $130. The company funded the purchase using proceeds from newly issued MSTR shares, with the remainder of the capital allocated to dividend payments, repurchases of its STRC share class, and a $30 million addition to its cash balance.
The company's return to buying marks a shift from its behavior during the downturn. In late June, when Bitcoin was trading at $58,500 — a 53% drop from its all-time high — Strategy sold some of its holdings to meet financial obligations. Over the summer, the company sold Bitcoin on three additional occasions, with total sales amounting to roughly $544 million. These transactions represented a departure from the company's earlier "never sell your Bitcoin" posture.
Strategy's aggressive accumulation model, historically funded through sales of new shares and borrowed money, came under pressure as Bitcoin's value fell. The company's holdings became less valuable while its ability to raise fresh cash weakened, prompting it to seek new funding mechanisms. In July 2025, Strategy introduced STRC, a dividend-paying share class designed to attract income-focused investors and provide another source of cash for Bitcoin purchases. STRC investors receive regular payouts, unlike MSTR common shareholders, who mainly benefit if the stock rises.
In June, after Bitcoin's downturn strained the model, Strategy created a financial backstop that set aside cash for dividend and interest payments and gave the company the option to buy back shares or sell Bitcoin if needed. The company still faces the challenge of generating cash to make regular payments to STRC investors, leaving it reliant on new share sales or Bitcoin sales. More recently, Strategy has focused on rebuilding its cash reserves to ensure it can continue paying dividends even if Bitcoin's price remains weak.
Strategy holds approximately 4% of the total Bitcoin supply. The company has faced growing shareholder pressure over its buying strategy, particularly as MSTR shares have fallen more than 60% over the past year. Several of its new funding approaches have drawn criticism or produced disappointing results, according to company disclosures.
