Strategy Buys Bitcoin, Pads Cash Reserves Following Biggest Weekly Stock Drop Since 2022 (opens original article in a new tab)

Strategy purchased 1,550 Bitcoin for $101 million, increasing its holdings to 845,256 BTC and boosting cash reserves to $1 billion after previous debt repurchases. Its stock rose 3.4% following the purchase, after a 24% drop the previous week due to a Bitcoin sale.

• Strategy bought 1,550 Bitcoin for $101 million, increasing total holdings to 845,256 BTC.
• The company's cash reserves were restored to $1 billion after previous debt repurchases.
• Strategy's stock rose 3.4% after the Bitcoin purchase, following a 24% drop the prior week due to a Bitcoin sale.