The Strategy has returned to buying bitcoin.
It bought 4,603 BTC at US$ 80.318 each, after spending the entire bottom period selling.
In August, between days 3 and 9, the company sold 1,690 BTC at US$ 64.262. Three weeks later it repurchased at US$ 80.318. It sold at the bottom and bought 25% higher.
The cash it had been accumulating during the downturn was used now, with the price US$ 16 thousand above where it entered the position.
The purchase was funded through share issuance via ATM, and the company also repurchased US$ 152 million in STRC, zeroing out net leverage.
“Strategy” sometimes seems to lack strategy.
It bought 4,603 BTC at US$ 80.318 each, after spending the entire bottom period selling.
In August, between days 3 and 9, the company sold 1,690 BTC at US$ 64.262. Three weeks later it repurchased at US$ 80.318. It sold at the bottom and bought 25% higher.
The cash it had been accumulating during the downturn was used now, with the price US$ 16 thousand above where it entered the position.
The purchase was funded through share issuance via ATM, and the company also repurchased US$ 152 million in STRC, zeroing out net leverage.
“Strategy” sometimes seems to lack strategy.
