After shifting its focus to rebuilding its USD stash and reinstating investors’ belief in STRC, Strategy’s CEO, Phong Le, explained that the firm plans to resume its BTC purchases by the end
After shifting its focus to rebuilding its USD stash and reinstating investors’ belief in STRC, Strategy’s CEO, Phong Le, explained that the firm plans to resume its BTC purchases by the end of the year.
As reported by Wu Blockchain, the exec noted that the world’s largest corporate holder of bitcoin remains a massive net buyer of the cryptocurrency, as it has purchased around 175,000 since the year started and has disposed of roughly 7,000. This means that the firm is still a 25x net buyer despite halting its purchases in late June.
Le also explained that the company has used the proceeds from its recent sale to support its preferred stock dividends, share repurchases, and the USD reserve, which is now well over $4.6 billion after the latest sale.
Meanwhile, the controversial STRC share has rebounded swiftly from the $75 lows. Nevertheless, it remains below its par price of $100 as it closed on Tuesday at just over $95.
Strategy’s CEO recently stirred additional controversy within the crypto community by admitting that the firm has turned its complete attention to pushing STRC to the par price. Numerous analysts and commentators questioned the statement, as it was just until a few months ago when the company swore its primary objective was to increase Bitcoin per share.
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