Strategy buys 950 bitcoin for $75.7 million, its first purchase since August 31
- Strategy bought 950 BTC for about $75.7 million, its first bitcoin purchase since August 31.
- The company paid entirely in cash and now holds 846,000 BTC.
- Strategy also spent $174 million buying back STRC preferred shares the same week.
Strategy resumed its bitcoin buying after a three-week hiatus, adding 950 BTC for about $75.7 million.
The company paid for the coin purchase in full with cash, it said in a Securities and Exchange Commission filing on Monday.
Holdings climb to 846,000 BTC at a $75,416 average cost
According to Strategy’s 8-K filing, the 950 coins were procured between September 14 and September 20 at an average price of $79,670. It now has 846,000 BTC in its stack.
The all-in cost, including fees, is about $63.8 billion in total, or an average of $75,416 per coin. The hoard is worth ~$71.9 billion at ~$85,000 per bitcoin, or ~$8.1 billion over cost.
The filing indicates that the purchase was funded entirely from USD cash reserves. That same week, a separate $57.4 million from the USD Reserve covered preferred dividends and debt interest.
As of September 20, the USD Reserve held $5.04 billion, while USD Cash held $1.05 billion. Holdings had been at 845,050 BTC since Strategy announced an acquisition of 4,603 coins on August 31.
CEO Phong Le said in July there would be no resumption of bitcoin purchases until STRC was back to its $100 par value. He said it was transitioning from a bitcoin treasury company to a “full digital capital platform.”
STRC buybacks took $174 million, more than double the coin spend
Strategy also repurchased 1.77 million shares of its Stretch preferred stock, STRC, for $174 million.
The week before, it passed over bitcoin and put $139.3 million into STRC, Cryptopolitan reported. The buybacks are intended to bring the discounted preferreds back to par.
Saylor posted the company’s acquisition tracker chart on X on Sunday with the caption “A little more orange.” Such teasers have often come one day before a buy announcement.
Bitcoin touched $85,000 on Monday for the first time since January. It’s up 5.3% over the past week.
MSTR rose 16.4% last week, closing Friday at $153.92, about flat for the year. The stock is down 54.2% over the last 12 months.
Strategy leads 196 public companies holding bitcoin. Next up is Tether-backed Twenty One with 43,514 BTC.
Strategy’s 846,000 coins are over 4% of Bitcoin’s 21 million supply cap.
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FAQs
How much bitcoin did Strategy buy and how did it pay for it?
Strategy bought 950 BTC for about $75.7 million, paid entirely from its USD Cash reserve.
How much bitcoin does Strategy hold in total now?
Strategy holds 846,000 BTC, bought at an average of $75,416 per coin.
Why had Strategy stopped buying bitcoin before this?
Holdings sat at 845,050 BTC after August 31, while Strategy spent cash buying back its discounted STRC preferred shares.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Randa Moses
Randa Moses is an editor and reporter at Cryptopolitan covering tech, AI, robotics, crypto, scams, and hacks. She has worked in the crypto space since 2017. She held roles at Forward Protocol, AmaZix, and Cryptosomniac. Randa holds a degree in Electrical and Electronics Engineering from the University of Bradford.
