Strategy Pads Cash Reserve, Drops Another $116 Million on Bitcoin

Although Strategy’s Bitcoin purchases cooled as the asset fell from all-time high of $126,000 in October, the company purchased roughly 22,600 Bitcoin last month. That marked a notable acceleration from 9,000 Bitcoin the month before, as a key source of funding grew constrained.

For years, Strategy has positioned the amount of Bitcoin that it owns per share as a core measure of its success. But as the company’s value has fallen relative to that of its Bitcoin holdings, issuing common stock has become a less effective way to boost that metric.