Strategy's Bitcoin Pile Nears June Record After $76M Purchase

Strategy reported buying 950 BTC for $75.7 million in the week to Sept. 20, according to an 8-K filing. The average price paid was $79,670 per coin including fees, bringing the firm’s reported Bitcoin balance to 846,000 BTC. At that aggregate holding cost of $63.80 billion, Strategy’s blended BTC cost stands at $75,416 per coin. The company’s current stack is now 1,363 BTC shy of its record 847,363 BTC reported on June 22, a gap equivalent to about 0.2%. Strategy’s holdings had fallen over the summer to a low of 840,447 BTC on Aug. 10 after it sold 6,948 BTC for roughly $432.5 million under a June capital framework that allowed up to $1.25 billion of sales; the firm has since added 5,553 BTC. Alongside the Bitcoin purchases, Strategy spent more heavily on repurchasing its own preferred stock. It deployed $174.0 million to buy back 1,771,238 shares of STRC preferred, the largest weekly repurchase since early September and more than double the BTC outlay in the same period. No STRF, STRK, STRD or MSTR common shares were repurchased that week. Both the Bitcoin buys and the preferred-stock repurchases were funded from Strategy’s USD Cash pool, which fell to $1.05 billion on Sept. 20 from $1.30 billion a week earlier — a cash draw that mirrors the combined $249.7 million spent on the two actions. The company reported no sales under its at-the-market offering during the period; that ATM program had previously raised $333.7 million in a single week in August. Strategy’s USD Reserve, which supports preferred dividends and interest, stood at $5.04 billion after a $57.4 million reduction.