Michael Saylor’s Strategy Buys the Dip, Acquiring $66,000,000 Worth of Bitcoin (BTC) in the Past Week

Bitcoin’s price dipped over the past week, but the $BTC treasury firm Strategy (MSTR) still opted to buy $66 million worth of the top crypto asset.

Strategy says it accumulated 811 Bitcoin at an average purchase price of $80,846 per $BTC, stretching its total holdings to 849,327 $BTC.

The firm didn’t add or sell any Bitcoin the week before, but it did stack a total of 3,466 $BTC worth $292 million across five consecutive weeks stretching from September to October.

The recent purchases follow a summer in which Strategy controversially conducted its first Bitcoin sales since 2022. Those sales materialized under the company’s newly introduced $BTC monetization program, designed to bolster Strategy’s cash reserves and support dividend payments.

On Monday, Strategy chairman Michael Saylor also noted the firm repurchased $208 million worth of STRC, the firm’s perpetual preferred stock that pays 12.00% annual dividends. STRC is designed to have a par value of around $100 and is currently trading at $99.28.

Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate $BTC holder by a wide margin.

Bitcoin is trading at $76,751 at time of writing. The top-ranked crypto asset by market cap is down nearly 1.5% in the past 24 hours and nearly 4% in the past week.