Strategy acquired 1,665 Bitcoin for $142.7 million between Sept. 21 and Sept. 27, taking its treasury to 847,666 BTC, Cointelegraph reported on Sept. 28. The purchases were made at an average price of $85,681 per coin, including fees and expenses, according to the company’s Form 8-K filing with the US Securities and Exchange Commission.
The company funded the purchase by selling shares rather than drawing down cash. It sold 1.47 million MSTR common shares for $246.2 million in net proceeds, then directed $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred stock, Cointelegraph reported.
Also read: Saylor's 'More Orange' Post Signals Another Strategy Bitcoin Buy
Key facts
- Strategy bought 1,665 BTC for $142.7 million at an average price of $85,681 per coin.
- Holdings now total 847,666 BTC, acquired for about $63.95 billion at an average cost of $75,437 per Bitcoin.
- The company sold 1.47 million MSTR shares for $246.2 million in net proceeds.
- It repurchased 1.53 million STRC shares for $151.7 million, with $48.1 million of that coming from existing cash.
- According to News.bitcoin, Saylor said Strategy held $6.02 billion in USD assets as of Sept. 27, with a USD duration of 3.8 years.
Preferred stock buybacks run alongside Bitcoin buying
Strategy’s week was not only about adding Bitcoin. The company repurchased 1.53 million STRC shares for $151.7 million, using the stock-sale proceeds plus $48.1 million from its US dollar cash holdings, Cointelegraph reported. News.bitcoin put the remaining capacity under the preferred securities repurchase program at $723.5 million. Cointelegraph reported the figure as $48.1 million drawn from cash; both outlets describe the same combined funding of stock proceeds and existing cash.
The treasury’s cash balances moved lower. Strategy’s USD Cash balance fell to $1 billion from $1.05 billion week over week after the $48.1 million used for STRC repurchases. Its separate reserve, kept to cover preferred stock dividends and debt interest, slipped to $5.02 billion from $5.04 billion following $22.1 million in dividend payments. News.bitcoin reported the two buckets together as $6.02 billion in dollar assets, and quoted Saylor’s own X post describing 847,666 BTC, the $6.02 billion figure, a 3.8-year USD duration, and a tightening in STRC’s BTC credit to 49 bps assuming 10% BTC ARR, 40% BTC volatility and a BTC price of $84,006.
Also read: Strategy's capital overhaul: Can buybacks and a Bitcoin sale option silence 'death spiral' fears?
Why it matters
Strategy remains the largest corporate holder of Bitcoin, so the weekly 8-K disclosures are watched as a gauge of how a levered treasury company behaves when the underlying asset falls. The company has now extended its buying streak after a two-week pause, when it bought 950 BTC for $75.7 million between Sept. 14 and Sept. 20. Notably, the average cost of the newest purchase, $85,681, sits well above the $75,437 average across the entire treasury, meaning this week’s coins were added near the higher end of the company’s historical entry range.
The STRC repurchases add a second signal: Strategy is retiring some of the preferred stock that supports its capital structure at the same time it is buying more Bitcoin, drawing on both equity sales and cash.
What to watch
Attention now turns to Strategy’s next weekly Form 8-K, which will show whether the buying pace continues and how the roughly $1 billion in available cash and the reserve level evolve. Bitcoin’s price is lower than the $85,681 weekly average Strategy paid, and both outlets noted soft trading around the disclosure.
This article is not financial advice. Bitcoin and related markets are volatile, and prices can move sharply in either direction.
Reported by cointelegraph.com.
Sources: Cointelegraph, News.bitcoin
