Bitcoin is back—and so is Michael Saylor’s Strategy, which made its first buy in two months

After a two-month dry spell, Strategy has resumed its Bitcoin buying spree. On Monday, the world’s largest digital asset treasury announced that it had purchased $370 million worth of Bitcoin at an average price of roughly $80,300 per BTC. Strategy shares rose nearly 3% following the announcement and were trading at about $130.

The company bought Bitcoin using part of the money it raised by selling newly issued MSTR shares, according to the SEC filing. It used the rest to pay dividends and repurchase STRC, a separate class of Strategy shares that pays investors regular income, and add $30 million to its cash balance.

Strategy’s latest purchase comes amid a brief rebound in Bitcoin, which was trading at roughly $78,800 on Monday. After spending much of the previous 10 months in a bear market, the cryptocurrency jumped more than 23%........

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