Strategy buys 1,665 Bitcoin for $142.7m as holdings reach 847,666 BTC
Michael Saylor's Strategy added 1,665 Bitcoin last week using proceeds from MSTR share sales, taking its total stack to 847,666 BTC, according to a regulatory filing.
Key points
- Strategy bought 1,665 Bitcoin for $142.7 million at an average price of $85,681 per coin.
- Holdings now total 847,666 BTC, bought for $63.95 billion at an average of $75,437 per coin.
- The company sold 1.47 million MSTR shares for $246.2 million in net proceeds.
- It allocated $103.5 million of those proceeds to repurchasing STRC preferred stock.
- Strategy's USD Cash balance fell to $1 billion from $1.05 billion week over week.
Strategy bought 1,665 Bitcoin for $142.7 million last week, lifting its holdings to 847,666 BTC, CoinTelegraph reports. The purchase was disclosed in a Sept. 28 8-K filing with the US Securities and Exchange Commission.
The company bought the coins at an average price of $85,681 each between Monday and Sunday, according to the filing. Strategy has now spent $63.95 billion on its Bitcoin at an average price of $75,437 per coin, including fees and expenses.
The purchase was funded through sales of MSTR common stock. Strategy sold 1.47 million shares for $246.2 million in net proceeds, allocating $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred stock.
Fresh Bitcoin purchase
The company repurchased 1.53 million STRC shares for $151.7 million in total, with an additional $48.1 million coming from its US dollar cash holdings. The week before, Strategy had bought 950 BTC for $75.7 million after a two-week pause in purchases.
Strategy's USD Cash balance fell to $1 billion from $1.05 billion week over week, after it used $48.1 million for the STRC repurchases. Its separate US dollar reserve, kept to cover preferred stock dividends and debt interest, declined to $5.02 billion from $5.04 billion following $22.1 million in dividend payments.
The filing shows how Strategy continues to fund its Bitcoin accumulation through equity sales while also managing its preferred stock obligations. The company remains the largest corporate holder of Bitcoin, and its buying activity is closely watched as a signal of institutional demand.
Funded by share sales
CoinTelegraph also notes that Strategy is seeking shareholder approval for daily preferred stock dividends, a change that would affect how the company services its STRC holders.