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Strategy Buys Bitcoin Again After Three Weeks

Bloomberg Markets •
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Michael Saylor’s Strategy Inc. purchased Bitcoin for the first time in three weeks, acquiring $75.7 million of the original cryptocurrency. The move follows efforts to rebuild investor confidence by reshaping its balance sheet and building reserves.

The original Bitcoin treasury company, co-founded and run by Saylor, also repurchased $174 million of its STRC perpetual preferred shares. This is part of an effort to lift the price above par so the securities can be used again to finance future Bitcoin purchases.

Cash was used to fund both transactions, Strategy said in a filing on Monday. The preferred trade just below $99.