Strategy bought 1,665 Bitcoin for $142.7 million last week, pushing its total holdings to a record 847,666 BTC. The company funded the purchase by selling MSTR shares, while also using proceeds to buy back $151.7 million of its STRC preferred stock.
Strategy bought 1,665 Bitcoin for $142.7 million at an average price of $85,681 per coin, according to a Sept. 28 8-K filing with the US Securities and Exchange Commission. The purchase, made between Sept. 21 and Sept. 27, lifts the company's total holdings to 847,666 BTC, acquired for $63.95 billion at an average price of $75,437 per Bitcoin.
Stock sales fund the purchase
Strategy sold 1.47 million MSTR shares last week, generating $246.2 million in net proceeds. It allocated $142.7 million of that to the Bitcoin purchase and $103.5 million to repurchases of its STRC preferred stock. The company bought 950 BTC for $75.7 million the previous week, after a two-week pause in purchases.
STRC buybacks and cash reserves
Strategy repurchased 1.53 million STRC shares for $151.7 million, drawing $103.5 million from the stock sale and an additional $48.1 million from its USD Cash reserve. That reserve fell to $1 billion from $1.05 billion week over week. Its separate USD Reserve, maintained to cover preferred-stock dividends and debt interest, declined to $5.02 billion from $5.04 billion after $22.1 million in dividend payments.
Holdings now worth $70.6 billion
Strategy's stash is worth around $70.6 billion at current prices, implying about $6.6 billion in paper gains, and equivalent to more than 4% of Bitcoin's 21 million supply cap. MSTR shares gained 16.1% last week, closing Friday at $158.61 and putting the stock up 2.6% year-to-date, though it remains 65% down over the past year. Bitcoin rose 3.6% over the same period.
Michael Saylor posted another Strategy acquisition tracker chart to X on Sunday, captioned "A little more orange." Similar posts have often preceded purchase announcements the following day, though the company's buying pattern has varied in recent weeks.
Sources: Cointelegraph.com News, Decrypt, The Block
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