Strategy buys $21 million worth of Bitcoin as corporate crypto buying shows signs of revival

Bitcoin buying is back.

Corporate crypto heavyweight Strategy announced Monday that it bought over $21 million worth of Bitcoin last week, bringing its total holdings to roughly $70 billion.

The company, led by the flamboyant billionaire Michael Saylor , funded the purchase by selling more than 125,000 shares of its common stock and using $500,000 in cash.

It also spent roughly $192 million to repurchase nearly 2 million shares of STRC, a type of preferred stock that makes regular payments to investors.

The latest purchase extends Strategy’s return to Bitcoin buying, marking its fifth purchase since August.

Bitcoin broke out of a prolonged trading lull in mid-August, climbing to around $77,000 for the first time since May.

It has largely held above that level since and was trading at $82,600 Monday morning.

The rebound followed a steep downturn that pushed Bitcoin from a high of $126,000 last October to a low of $58,000 in June.

Amid the slump, Strategy—which holds roughly 4% of Bitcoin’s circulating supply—sold portions of its stockpile on four occasions.

As Bitcoin’s price rebounded, Strategy stopped selling and returned to stockpiling.

Strategy isn’t the only big player wading back into Bitcoin.

Other companies have recently added crypto to their balance sheets, breathing life back into corporate crypto buying .

Earlier this month, Strive, the asset manager cofounded by billionaire Vivek Ramaswamy, announced a $169 million purchase of 2,000 Bitcoin, bringing its stockpile to roughly $2.4 billion.

Robinhood, the crypto trading platform led by CEO Vlad Tenev, also joined the ranks of corporate Bitcoin buyers and recently disclosed a $25 million investment for its own balance sheet.