Strategy buys 1,665 bitcoin for $142.7 million, holdings reach 847,666 BTC
The bitcoin treasury company added 1,665 BTC at an average price of $85,681, funded by sales of its Class A common stock, according to an SEC filing.
Key points
- Strategy acquired 1,665 BTC for about $142.7 million between Sept. 21 and Sept. 27, at an average of $85,681 per bitcoin.
- Total holdings now stand at 847,666 BTC, bought at an average of $75,437 for a total cost of roughly $64 billion including fees.
- The purchases were funded by at-the-market sales of MSTR stock; $18.84 billion of shares remain available under the programme.
- Strategy also repurchased 1,534,530 STRC preferred shares for about $151.7 million last week.
- Michael Saylor posted an acquisition tracker chart on X with the caption "A little more orange".
Strategy has bought another 1,665 bitcoin for about $142.7 million, taking its total holdings to 847,666 BTC, according to an 8-K filing with the Securities and Exchange Commission. The purchases were made between Sept. 21 and Sept. 27 at an average price of $85,681 per bitcoin, the filing states.
The company's total stack was acquired at an average price of $75,437 per bitcoin, for a total cost of roughly $64 billion including fees and expenses, according to co-founder and executive chairman Michael Saylor. At current prices those holdings are worth around $70.6 billion, implying about $6.6 billion of paper gains. The position equals more than 4% of bitcoin's 21 million supply cap.
The latest acquisitions were funded by proceeds from at-the-market sales of Strategy's Class A common stock, MSTR. Last week the company sold 1,469,165 MSTR shares for approximately $246.2 million. As of Sept. 27, $18.84 billion worth of MSTR shares remained available for issuance and sale under that programme, per the filing.
Another 1,665 bitcoin added
Strategy also repurchased 1,534,530 STRC preferred shares last week for around $151.7 million. The bitcoin purchases were made using $103.5 million in MSTR sales and $48.1 million from the company's USD Cash reserve. A further $22.1 million of its USD Reserve funded dividend payments on its preferred stock over the same period. As of Sept. 27, the USD Reserve and USD Cash balances stood at $5.02 billion and $1 billion respectively.
Saylor posted another Strategy bitcoin acquisition tracker chart to X on Sunday, captioned "A little more orange". Such posts have typically preceded acquisition announcements the following day, though the company's approach has varied in recent weeks, with holdings held steady of late.
Per Bitcoin Treasuries data, 195 public companies have adopted some form of bitcoin acquisition model. Tether-backed Twenty One, Metaplanet, MARA, and the Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company complete the top five, with 43,514 BTC, 43,000 BTC, 35,577 BTC and 30,021 BTC respectively.
Funded by share sales
On Friday, Strategy proposed moving its STRC, STRD, STRF and STRK preferred stocks to daily dividends, subject to a shareholder vote on Oct. 28. STRC only shifted from monthly to semi-monthly dividends in June, when shareholders approved an earlier change to its payment schedule. The proposal does not alter dividend rates on the four securities or raise Strategy's total regular dividend obligations. STRC would switch first, with an initial record date of Nov. 1 and payment the following day if shareholders approve, while STRF, STRD and STRK would follow in January. Strategy's stock gained 16.1% last week, closing Friday at $158.61, and is up 2.6% year-to-date, though still 65% down over the past year, while bitcoin rose 3.6% over the same period.