Key Points:
- Strategy acquired 950 BTC for $75.7 million at an average price of $79,670 per Bitcoin, ending a two-week pause in its purchases.
- The purchase lifted Strategy’s Bitcoin holdings to 846,000 BTC, acquired for approximately $63.8 billion at an average cost of $75,416 per coin, including fees and expenses.
- The company also repurchased approximately 1.77 million STRC preferred shares for $174 million while maintaining $875.1 million available under its preferred-stock repurchase program.
Strategy Resumes Bitcoin Accumulation
Strategy has resumed its Bitcoin accumulation after a two-week pause, purchasing 950 BTC for $75.7 million during the week ending Sept. 20.
According to a Form 8-K filed with the US Securities and Exchange Commission, the company paid an average of $79,670 per Bitcoin for the latest acquisition.
The purchase brings Strategy’s total Bitcoin holdings to 846,000 BTC. The company has spent approximately $63.8 billion accumulating its Bitcoin position, with an average acquisition cost of $75,416 per BTC, including fees and expenses.
Based on the Bitcoin price cited in the source material, Strategy’s holdings carried an unrealized gain of approximately $8.05 billion.
Bitcoin Buying Resumes Alongside Capital Management
The latest purchase comes as Strategy continues to balance its core Bitcoin accumulation strategy with management of its preferred securities and cash reserves.
Strategy remains the largest publicly traded corporate Bitcoin holder, and its capital structure includes multiple preferred-stock programs alongside its common stock and debt.
Shares of Strategy rose 7.4% to $165.20 in pre-market trading on Monday, according to Yahoo Finance data cited in the source material.
Strive, another major corporate Bitcoin holder, also announced a new acquisition during the same period, adding 1,355 BTC and bringing its holdings to 26,355 BTC. Its shares gained 6.44% to $32.03.
Strategy Repurchases $174 Million of STRC
Alongside the Bitcoin purchase, Strategy continued reducing its outstanding STRC perpetual preferred stock.
The company repurchased approximately 1.77 million STRC shares for $174 million during the same week.
STRC shares were trading at $98.85 in Monday’s pre-market session, up 0.35%.
Strategy said it still had $875.1 million available under its preferred-stock repurchase program. The company also had $1 billion remaining under its separate MSTR common-share repurchase program.
The simultaneous Bitcoin purchase and preferred-stock repurchase show Strategy deploying capital across both sides of its capital structure rather than directing all available funds toward Bitcoin accumulation.
No ATM Sales During the Week
Strategy reported no sales through its at-the-market offering programs between Sept. 14 and Sept. 20.
That means the company did not raise additional capital through those programs during the period covered by the filing.
The absence of ATM issuance is notable because Strategy has historically used equity and preferred-security offerings as part of its broader capital strategy for financing Bitcoin acquisitions and other corporate needs.
Cash Reserves Decline
Strategy’s reported USD Cash balance fell nearly 20% during the week, declining to $1.05 billion from $1.30 billion previously.
The company uses USD Cash for broader treasury purposes, including Bitcoin purchases and capital management.
Its separate USD Reserve declined more modestly to $5.04 billion from $5.10 billion.
Strategy said it used approximately $57.4 million from the reserve to cover preferred-stock dividends and interest payments on outstanding debt. The USD Reserve is primarily intended to support those obligations rather than fund general corporate spending.
The distinction between the two balances provides insight into how Strategy manages liquidity while continuing to expand its Bitcoin treasury.
Outlook
Strategy’s latest filing shows the company returning to Bitcoin accumulation while simultaneously allocating substantial capital toward its preferred-stock structure. The 950-BTC purchase increases an already large Bitcoin position, while the $174 million STRC repurchase reduces outstanding preferred shares and leaves significant capacity under the company’s repurchase programs. With no ATM sales during the week and its USD Cash balance declining, the balance between Bitcoin purchases, preferred obligations, share repurchases and available liquidity will remain central to Strategy’s capital-management strategy.
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