Home Strategy Adds 1,665 Bitcoin For $143M As Holdings Reach 847,666 BTC

Strategy Adds 1,665 Bitcoin For $143M As Holdings Reach 847,666 BTC

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Strategy Adds 1,665 Bitcoin For $143M As Holdings Reach 847,666 BTC
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Strategy has bought another 1,665 Bitcoin for about $142.7 million, taking its total Bitcoin holdings to 847,666 BTC. The company, led by Michael Saylor, made the purchase between Monday and Sunday at an average price of $85,681 per Bitcoin.

Strategy funded the purchase mainly through sales of its common stock. The latest buying takes the company’s total spending on Bitcoin to $63.95 billion, with an average purchase price of $75,437 per BTC, including fees and expenses.

According to a September 28 filing with the US Securities and Exchange Commission, Strategy sold about 1.47 million shares of its MSTR common stock and received $246.2 million in net proceeds. Of that amount, $142.7 million went towards the Bitcoin purchase.

Strategy Adds 1,665 Bitcoin For $143M As Holdings Reach 847,666 BTC

Source: Strategy.com

The company used another $103.5 million for repurchasing its STRC preferred stock. Strategy bought about 1.53 million STRC shares for $151.7 million. It funded the remaining $48.1 million of that purchase from its US dollar cash balance.

The latest Bitcoin purchase comes after Strategy bought 950 BTC for $75.7 million the previous week. Before that, the company had paused Bitcoin purchases for two weeks.

Strategy’s cash position also changed during the week. Its USD Cash balance fell to about $1 billion from $1.05 billion after the company used $48.1 million for the STRC repurchase. The company maintains a separate US dollar reserve to cover preferred stock dividends and interest payments on its debt. That reserve declined slightly to $5.02 billion from $5.04 billion after Strategy paid $22.1 million in dividends.

Strategy Adds 1,665 Bitcoin For $143M As Holdings Reach 847,666 BTC

The latest purchase reinforces Strategy’s approach of using capital raised from its securities to expand its Bitcoin holdings while also managing its preferred-stock obligations and cash reserves.

With 847,666 BTC now on its balance sheet, Strategy remains one of the largest corporate holders of Bitcoin. Its average acquisition cost of $75,437 per coin also means the company’s Bitcoin strategy continues to be closely tied to movements in the cryptocurrency’s market price.

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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