Strategy Buys Bitcoin for First Time Since June — WSJ

By Vicky Ge HuangStrategy, the bitcoin accumulation firm founded by Michael Saylor, said it bought about $370 million worth of the digital currency last week, its first purchase since June.Strategy said it acquired 4,603 bitcoin at an average price of $80,318 using proceeds from the sale of company's common shares. The company now holds 845,050 bitcoin, worth roughly $66 billion.Strategy had paused its bitcoin purchases and sold bitcoin in recent weeks. After a sharp decline in its common and preferred shares, the company unveiled a turnaround plan at the end of June that included buying back stock and selling bitcoin.Shares of Strategy ticked higher in premarket trading.This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).