Strategy resumes bitcoin purchases as BTC rallies back to $84,500

Strategy MSTR$168.44·Market Closed made its first bitcoin purchase since late August, acquiring 950 BTC for $75.7 million last week at an average price of $79,670 per coin.

The purchase was funded through the USD reserve, according to a Monday morning regulatory filing. Strategy used $174 million of USD cash to fund repurchases of STRC and $75.7 million of USD cash to buy bitcoin. In addition, the company used $57.4 million of the USD reserve to fund the payment of dividends on its preferred stock. The USD reserve now sits at $5 billion and the USD cash sits at $1 billion.

Led by Executive Chairman Michael Saylor, Strategy now holds 846,000 BTC, acquired for a total of $63.81 billion at an average price of $74,417 per coin.

MSTR shares rose 7% in pre-market trading as bitcoin climbed to $84,500, gaining 4.5% over the past 24 hours.