Strategy, the company led by Executive Chairman Michael Saylor, has resumed its Bitcoin purchases after a several-week pause. According to a regulatory filing, the firm acquired 950 Bitcoin for a total of $75.7 million U.S. over the past week.
This marks the company's first purchase since late August, with the coins bought at an average price of $79,670 U.S. each. Strategy funded the transaction using its cash reserves. With this addition, the company's total holdings now stand at 846,000 Bitcoin, which it has acquired at an average cost of $74,417 U.S.
The purchase coincides with a recent surge in the price of the leading cryptocurrency. On Sept. 21, Bitcoin traded at $85,300 U.S., representing a 5% increase in the previous 24 hours and marking its highest level since January.
Shares of Strategy, trading under the ticker MSTR on the NASDAQ, also saw significant gains. The stock was up 8% at $166.08 U.S. per share in premarket trading, moving in tandem with the broader rally in crypto assets.