Strategy adds $65 million in Bitcoin despite Binance hack

Strategy, the publicly traded Bitcoin‑holding firm owned by billionaire Michael Saylor, announced a week‑long buying spree that netted more than $65 million in Bitcoin.

The purchases ran from Oct. 26 through Nov. 1, during which the company acquired 811 BTC at an average price of roughly $80,800 per coin. This marks Strategy’s largest Bitcoin acquisition since late September.

To finance the buys, Strategy sold shares of its common stock. In addition, it used $208 million from its cash reserves to repurchase about 2 million STRC shares, which provide regular dividends to investors.

Midway through the buying run, a hack linked to North Korea struck Binance, the industry’s largest centralized exchange. According to crypto‑intelligence firm TRM Labs, the attackers moved most of the estimated $6.3 billion in roughly 20 minutes. As the breach spread on social media Thursday, Bitcoin fell to a low of $76,600.

One day before Strategy’s announcement, Saylor, who serves as executive chairman and is known for his bullish stance on Bitcoin, posted on social media early Sunday morning, “We found room for even more orange,” alongside a chart tracking Strategy’s purchases against Bitcoin’s price.

The company’s disclosure did not specify whether the purchases occurred during the price dip, but the timing overlapped with heightened concerns about crypto security.

TRM Labs identified the hackers as TraderTraitor, an elite North Korean unit, noting the breach was roughly four times larger than the 2025 Bybit hack, the previous record holder. The incident follows a series of North Korean crypto heists aimed at financing the regime’s weapons programs.

Binance responded quickly and publicly pledged to cover customer losses, though some users on X expressed doubts about the broader industry’s safety.

Strategy’s latest activity adds a significant amount of Bitcoin to its holdings amid a period of market turbulence and security headlines.