Strategy Makes Biggest Bitcoin Purchase Since September, While Bitmine, Strive Slow Down

What happened

Strategy bought 1,036 Bitcoin over the past week at an average price of $79,012 each, its largest purchase since September and its second consecutive week of buying. It said it now holds 850,364 Bitcoin, acquired for $64.16 billion. Bitmine and Strive slowed their purchases.

Confirmed

Global impact / market context

Strategy funded the purchase by selling $283.8 million of common stock, but most proceeds went to buying back preferred shares rather than Bitcoin. This links its buying capacity to stock sales and competing demands for cash, while its Bitcoin holdings were below their total purchase cost at the reported price.

Analyst inference

The article reports Bitcoin at around $75,200 on Monday morning, below Strategy’s average purchase price for the latest batch and below the total cost of its holdings. Bitcoin was down more than 1% over 24 hours, while retail sentiment was described as bearish.

Confirmed

What to watch

1. Watch whether Strategy continues to sell common stock to fund Bitcoin purchases, and how much of any sale proceeds instead goes toward buying back preferred shares. Analyst inference
2. Track future company filings for changes in Strategy’s Bitcoin holdings and the amounts spent on purchases and preferred-share buybacks. Analyst inference
3. Compare subsequent buying by Bitmine and Strive with their reported slowdown; the article gives no purchase totals or explanation for that change. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• stocktwits.com