Strategy Buys $75.7M in Bitcoin, First Purchase Since August

Strategy Inc., the Bitcoin treasury company chaired by Michael Saylor, acquired $75.7 million of Bitcoin, its first purchase in three weeks, the company disclosed in a Monday filing. The firm also repurchased $174 million of its STRC perpetual preferred shares, part of an effort to lift the securities above par so they can again finance Bitcoin purchases. Both transactions were funded with cash. The preferred shares traded just below $99 at the time of the filing. The purchase follows a modest improvement in Strategy's financing conditions. Bitcoin has rebounded to an eight-month high near $85,000, lifting Strategy's shares and narrowing the gap between its market capitalization and the value of its holdings, which total roughly $71 billion. Saylor has reversed parts of his funding scheme amid investor concern over shareholder dilution and liquidity during a prolonged digital-asset downturn. Strategy shares have fallen 55% over the past year.