Strategy Expands Bitcoin Holdings to 847,666 BTC with $143M Purchase of 1,665 Coins

Strategy Expands Bitcoin Holdings to 847,666 BTC with $143M Purchase of 1,665 Coins

Following the sale of $246.2 million worth of MSTR stock, Michael Saylor's Strategy has acquired 1,665 Bitcoin for $142.7 million, pushing total holdings to 847,666 BTC.

In its latest acquisition, Michael Saylor's Strategy purchased 1,665 Bitcoin last week for a total of $142.7 million, bringing the company's total Bitcoin reserves to 847,666 BTC. The purchase was financed through the sale of the company's common stock.

According to an 8-K filing submitted to the US Securities and Exchange Commission on Sept. 28, Strategy acquired the Bitcoin during the period spanning Monday through Sunday at an average cost of $85,681 per coin. The company's cumulative Bitcoin investment now stands at $63.95 billion, representing an average acquisition price of $75,437 per Bitcoin when accounting for all fees and expenses.

The capital for this Bitcoin acquisition came from the sale of MSTR common stock. Strategy divested 1.47 million shares, generating net proceeds totaling $246.2 million. Of this amount, $142.7 million was directed toward the Bitcoin purchase, while the remaining $103.5 million was allocated to buying back its STRC preferred stock.

The company executed repurchases of 1.53 million STRC shares, spending a total of $151.7 million. To complete these repurchases, Strategy drew an additional $48.1 million from its existing US dollar cash reserves. This acquisition follows the prior week's purchase of 950 BTC valued at $75.7 million, which came after the company had taken a two-week break from buying.

As a result of deploying $48.1 million toward STRC repurchases, Strategy's "USD Cash" balance decreased from $1.05 billion to $1 billion on a week-over-week basis. Meanwhile, the company's distinct US dollar reserve account, which is specifically maintained to ensure coverage of preferred stock dividends and debt interest obligations, saw a reduction from $5.04 billion to $5.02 billion following the distribution of $22.1 million in dividend payments.