Strategy returned to the bitcoin market last week, purchasing 811 BTC for $65.5 million as disclosed in its latest Form 8-K filing. Following a week without any bitcoin acquisitions, this recent move lifted the company’s bitcoin holdings to 849,327 BTC.
Latest bitcoin acquisition
Strategy paid an average of $80,846 per bitcoin for this batch, including fees. The company’s total spend for its bitcoin reserve now stands at $64.08 billion, averaging $75,451 per coin across all purchases.
Executive Chairman Michael Saylor confirmed this acquisition on X, noting, “Strategy has acquired 811 $BTC and repurchased $208M of $STRC.”
Executive Chairman Michael Saylor stated that Strategy completed the purchase of 811 BTC and repurchased $208 million worth of STRC shares during the week.
All of the newly acquired bitcoins were purchased using proceeds from the company’s Class A common stock sales. Through its at-the-market program, Strategy sold 1,178,552 shares of MSTR for $164 million after commissions during the week. Of the total raised, $65.5 million funded the bitcoin acquisition while the remaining $98.5 million was added to USD Cash.
Mini dictionary: Strategy is a publicly traded business intelligence and bitcoin holding company, known for its aggressive accumulation of BTC as a treasury reserve asset.
Share buybacks and capital management
In addition to its bitcoin purchase, Strategy repurchased 2,092,035 STRC preferred shares, spending $208.2 million from its USD Cash reserves. The remaining authorization for the preferred share buyback program is now $748.6 million, following the board’s recent increase of the program limit to $3 billion.
During the last two weekly filings, Strategy invested a total of $413.1 million in STRC repurchases since October 19, significantly exceeding its recent bitcoin purchases. In the week prior, which ended October 25, the company allocated $204.9 million to STRC buybacks but reported no new bitcoin additions.
| Week | BTC purchased | Amount spent on BTC | STRC repurchases | Amount spent on STRC |
|---|---|---|---|---|
| Oct. 19–25 | 0 BTC | $0 | 2,092,035 | $204.9M |
| Oct. 26–Nov. 1 | 811 BTC | $65.5M | 2,092,035 | $208.2M |
Strategy did not issue shares of its preferred stock series STRF, STRC, STRK, or STRD during the week. The pause on STRC sales has been in effect since June after the preferred stock price fell below its $100 target.
Reserve status and holdings
By the end of the week, Strategy’s USD Cash balance stood at $132.7 million, down from $242.4 million a week earlier. The company’s USD Reserve, which is maintained to cover preferred dividends and interest on outstanding debt, was reported at $4.79 billion after making $43.4 million in dividend payments. Michael Saylor put the company’s total USD assets at $4.9 billion.
Saylor also commented on STRC, stating that its “BTC Credit tightened to 59 bps” based on a bitcoin price assumption of $76,700, which is below the $80,846 average price the company paid for its latest bitcoin purchases.
