Strategy Just Bought Bitcoin for the First Time in Over Two Months. Here's Why the Timing Matters.
Investors should understand the reason behind Strategy's crypto purchases.
Overview
Strategy (NASDAQ:MSTR) is back to buying Bitcoin (CRYPTO:BTC).
On Aug. 31, the firm acquired $370 million of Bitcoin at an average purchase price of $80,318. The purchase came after four straight sales. In combination, these sales brought in roughly $430 million.
Details
On paper, the moves appear confusing. Why dump $430 million in Bitcoin over a period of two months just to buy most of that stake back within weeks of the last sale?
Source
Originally published at www.fool.com.
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