Strategy Buys Bitcoin, Pads Cash Reserves Following Biggest Weekly Stock Drop Since 2022
Strategy resumed Bitcoin accumulation, buying 1,550 BTC for $101 million after a small liquidation had sparked its worst weekly stock performance since November 2022. The company now reports holdings of 845,256 BTC, worth about $53.3 billion at roughly $63,000 per coin. Shares rose 3.4% Monday after falling 24% last week, when Strategy disclosed its first Bitcoin sale in over three years: 32 BTC for $2.5 million. The firm also emphasized stronger liquidity, saying cash reserves reached $1 billion after setting aside about $80 million to support dividends and debt service. That comes after it cut cash holdings to repurchase debt and had previously earmarked funds for its preferred stock, STRC. Bitcoin’s drop to around $59,400 last week increased unrealized losses, leaving Strategy’s stack about $10.7 billion underwater.
