Strategy Buys $370M in Bitcoin as BTC Price Trades Near $78,000

TLDR:

• Strategy bought 4,603 more BTC for $369.7 million, lifting total holdings to 845,050 bitcoin.
• Average purchase price hit $80,318 per coin, well above Strategy’s $75,412 average cost basis.
• Bitcoin trades near $77,600, down 1.12% daily but still up 0.90% across the past week.
• Strategy’s net leverage stayed at zero percent, with total USD assets reaching $6.71 billion.

Strategy expanded its Bitcoin position again in late August, buying more coins at a premium price. 

The company purchased 4,603 BTC for $369.7 million between August 24 and 30. That purchase pushed Strategy’s total holdings to 845,050 BTC, worth $63.73 billion in total cost.

Bitcoin’s own price traded near $77,600 as the buying wrapped up, still short of Strategy’s average cost basis.

Strategy Bitcoin Purchase Lifts Total Holdings Near 850,000 BTC

Strategy paid an average of $80,318 per Bitcoin for the new coins. That price sits above the company’s average cost basis of $75,412 per BTC, per data from Walter Bloomberg.

Michael Saylor confirmed the purchase, noting the firm also added $29 million in USD cash. He said Strategy repurchased $152 million of its STRC preferred stock during the same stretch.

Net leverage held at 0.0%, with total USD assets standing at $6.71 billion. Saylor said the USD reserve backing STRC reached $5.10 billion, with $1.61 billion in cash on hand.

Strategy funded the acquisition through MSTR share sales, raising $602.8 million in net proceeds. The company has now spent $63.73 billion assembling its Bitcoin position since it began buying.

These moves improved the STRC’s USD Duration to 4.0 years, up 23 days from the prior reading. The preferred stock’s BTC Credit fell to 56 basis points, down three points.

Bitcoin Price Holds Near Key Levels After Strategy’s Latest Buy

Bitcoin traded at $78.02K as of data from CoinGecko at press time. The price slipped 1.12% over 24 hours but remained up 0.90% for the week. Trading volume reached $26.96 billion in the same period.

Bitcoin price on CoinGecko

Trader Daan Crypto Trades pointed to roughly ten days of sideways movement in Bitcoin. He said such ranges often appear near the start of a new month. His outlook stays bullish as long as Bitcoin holds above $74,000.

Analyst 0xbeehive flagged a liquidity grab after Bitcoin pushed into the $79,000 supply zone. Price failed to hold that level and was quickly rejected lower. The trader is now watching whether BTC can defend support near $77,000.

A break below $77,000 could open the door to a deeper pullback, per 0xbeehive’s analysis. The next downside target sits near $75,000 if that support gives way. Strategy’s average cost basis of $75,412 sits close to that same zone.

The current range has held for more than a week without a clear breakout in either direction. Traders are watching for a decisive move once September trading begins.

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