Strategy deployed another $217.4 million into Bitcoin this week, acquiring 1,955 $BTC as the market debated the implications of a softening labor market and the Fed’s next move.
Bitcoin ( $BTC ) climbed 1.4% to over $112,600 Monday, with its rally fueled by robust institutional accumulation that continues to counterbalance sell pressure from large holders.
The move aligns with a broader crypto market uptick and appears to be supported by recent corporate treasury moves, including a significant $217 million purchase by business intelligence firm Strategy.
According to a September 8 Form 8-K filing with the U.S. Securities and Exchange Commission, the Tysons Corner, Virginia-based company funded the purchase entirely using net proceeds from its active at-the-market equity offering programs.
The purchase, executed at an average price of $111,196 per Bitcoin, happened between September 2 and September 7, pushing the company’s total holdings to a staggering 638,460 BTC, valued at over $71 billion at current market rates.
Why Strategy keeps buying Bitcoin
By using ATM equity offerings to fund Bitcoin purchases, Strategy has turned its stock into a pipeline for accumulating digital assets, allowing it to scale its holdings without straining day-to-day operations.
Speaking to CNBC on Monday, Chairman Michael Saylor framed the company’s ongoing accumulation in macroeconomic terms. He argued that bitcoin’s scarcity is a hedge against the erosion of purchasing power in fiat currencies, a theme he has returned to repeatedly since Strategy’s initial pivot in 2020.
