Strategy has expanded its Bitcoin holdings once again, purchasing 850 BTC between September 15 and 21. The move was confirmed in a press release, just a day after co-founder Michael Saylor hinted at the acquisition in an X post, stating that “The Orange Dots go up and to the right.” Despite the latest buy, both Bitcoin and Strategy’s stock (MSTR) have declined in recent trading.
According to the company, the 850 BTC were purchased for approximately $99.7 million at an average cost of $117,344 per coin. This raises Strategy’s total Bitcoin reserves to 639,835 BTC, acquired for about $47.33 billion at an average of $73,971 per coin. The firm reported a BTC yield of 26% overall.
Funding for the purchase came through the sale of MSTR and STRF shares, generating $80.6 million and $19.4 million respectively, as outlined in the SEC filing. This marks Strategy’s eighth consecutive weekly Bitcoin acquisition since late July, with the previous week’s smaller purchase totaling 525 BTC for $60 million.
However, the buying spree coincides with declining asset prices. MSTR stock is currently trading near $336, about 2% lower than last week’s $344 close, and recently hit a five-month low of $323. Despite the drop, MSTR remains up 14% year-to-date.
Bitcoin is also trading weaker, hovering below the key $113,000 level, down more than 2% in the last 24 hours. The broader crypto market slump has been attributed to rising U.S. Treasury yields and other macroeconomic pressures. Meanwhile, gold advocate and Bitcoin critic Peter Schiff has warned that BTC could still sink below $100,000 while gold potentially rallies to $4,000.
