Strategy, formerly MicroStrategy, has established a new U.S. dollar reserve that it intends to use to purchase bitcoin, according to a filing submitted Monday. The Nasdaq-listed company increased its cash buffer to $5.1 billion and created an additional $1.59 billion pool dedicated to bitcoin purchases. Strategy has not purchased bitcoin since June, opting instead to focus on stock buybacks and building a safety cushion. The company currently holds 840,447 BTC, equivalent to $66.4 billion at current prices, making it the largest corporate holder of bitcoin. Bitcoin’s price stands at $79,031, up 25% over the past week.
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