Strategy Buys $370M of Bitcoin in First Purchase Since June

Strategy has acquired 4,603 Bitcoin for approximately $370 million, marking the company’s first reported purchase of the cryptocurrency since June, according to Decrypt. The acquisition was completed at an average price of $80,318 per Bitcoin. That average is about 29% higher than the price Strategy received for the Bitcoin it sold during the summer. The transaction adds to the company’s Bitcoin exposure after a period without a reported purchase since June. The size of the acquisition makes it a notable transaction for the company and provides a fresh reference point for its average entry price on this purchase. The report did not provide additional details on the timing of the summer sales or the company’s rationale for the new acquisition.