Strategy Stays Bullish on Bitcoin as 3.46M Shares Hit the Market

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The company expanded its USD reserve and repurchased more shares of STRC.

After a couple of sales announced in August, Michael Saylor’s NASDAQ-listed entity did not make any Bitcoin moves, but it increased its USD reserve by $150 million.

As such, its total stash remains at 840,447 BTC, currently valued at around $53.3 billion. The firm has accumulated its crypto fortune for roughly $10 billion more than the current value, and its average price is $75,385 per unit.

Aside from the growing USD reserve and extending the dividend payout duration to 2.8 years, the company said it has repurchased over $130 million worth of STRC.

STRC ended last week at around $95, as it continues to recover from its dip to $75. However, it’s still inches away from its par price of $100.

The good news for the cryptocurrency community this week is that the largest corporate holder of BTC didn’t sell any, unlike the previous week when it offloaded 1,690 units.

Meanwhile, Strategy CEO Phong Le indicated last week that the company still plans to resume its Bitcoin purchases soon, and it could start by the end of the year.

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