Bitcoin Magazine Strategy and Strive Announce $182.7 Million Bitcoin Buy as Price Surges Past $86,000

Bitcoin treasuries kicked off Monday with a bang, with Strategy and Strive announcing they scooping up a combined 2,305 BTC for $182.7 million. 

Strategy said in a filing that it last week bought 950 bitcoins for $75.7 million — its first buy since August — and Strive snapped up 1,355 BTC for $107.7 million. 

The announcement comes as the price of the biggest cryptocurrency surges. Bitcoin’s price recently stood at $86,008, a 6% 24-hour rise, after hitting as high as $86,282 earlier on Monday. 

Strategy, the biggest corporate holder of bitcoin, also repurchased $174 million of its STRC perpetual preferred shares. The company has hit pause on buying this year to buy back its stock and build a cash reserve. 

On some occasions, the company even sold small bits of its BTC stash — despite founder and chairman Michael Saylor famously preaching to “never sell your bitcoin.”

After a 10-week hiatus, the company started buying bitcoin again in the final week of August, scooping up nearly $370 million in the leading cryptocurrency. 

Its bitcoin holdings now stand at 846,000 coins — worth $72.7 billion at today’s prices.