Strategy, formerly known as MicroStrategy, has revealed yet another Bitcoin purchase despite being overlooked for inclusion in the S&P 500 index. The company confirmed it acquired 1,955 BTC between September 2 and 7, investing $217.4 million at an average price of $111,196 per coin. With this move, Strategy’s total Bitcoin holdings have climbed to 638,460 BTC, purchased at an average of $73,880, bringing the overall investment to $41.17 billion.
The announcement comes as Bitcoin’s price rebounded above $112,000 today. However, Strategy’s stock (MSTR) slipped over 2% in premarket trading, currently hovering around $327, down from last week’s $335 close. Despite BTC’s rally, MSTR has dropped more than 10% over the past month, largely coinciding with renewed stock sales to fund crypto purchases.
To finance its latest acquisition, the company raised $200.5 million by selling 591,606 MSTR shares, in addition to $11.6 million and $5.2 million from STRF and STRK share sales. This marks Strategy’s sixth straight week of Bitcoin accumulation, following last week’s larger purchase of 4,048 BTC for $444 million. With these consistent buys, the company now controls over 3% of Bitcoin’s circulating supply.
The setback for MSTR stock also reflects the S&P 500 Committee’s decision to select Robinhood, AppLovin, and Emcor over Strategy, despite the firm reportedly meeting all eligibility requirements. Michael Saylor, in a recent X post, teased the purchase by sharing the company’s BTC portfolio tracker with the caption, “Needs More Orange,” signaling his ongoing bullish stance on Bitcoin.
