Bitcoin treasury firm Strategy has resumed its Bitcoin purchases, acquiring 535 BTC for $43 million at an average price of $80,340 per coin. The purchase, announced Monday, comes after a pause last week and brings Strategy's total holdings to 818,869 BTC, worth approximately $61.9 billion.
Chairman Michael Saylor clarified his earlier comments that sparked market speculation about potential Bitcoin sales. Saylor explained on a podcast that his famous 'never sell your Bitcoin' mantra was meant as 'never be a net seller of Bitcoin.' He argued that the firm's break-even issuance rate of 2.3% means Strategy remains a net buyer even when selling some Bitcoin to fund dividends on its STRC preferred stock.
CEO Phong Le reinforced the strategy as 'math over ideology,' stating the company will sell Bitcoin when it is more accretive to Bitcoin-per-share than selling equity. JPMorgan analysts estimate Strategy's Bitcoin purchases could total $30 billion this year at the current pace. Bitcoin is trading around $81,200.