Strategy buys $21 million worth of Bitcoin as corporate crypto buying shows signs of revival

Bitcoin buying is back. Corporate crypto heavyweight Strategy announced Monday that it bought over $21 million worth of Bitcoin last week, bringing its total holdings to roughly $70 billion. The company, led by flamboyant billionaire Michael Saylor, funded the purchase by selling more than 125,000 shares of its common stock and using $500,000 in cash. It also spent roughly $192 million to repurchase nearly 2 million shares of STRC, a type of preferred stock that makes regular payments to investors. The latest purchase extends Strategy's return to Bitcoin buying, marking its fifth purchase since August. Bitcoin broke out of a prolonged trading lull in mid-August, climbing to around $77,000 for the first time since May.