Michael Saylor’s Strategy has expanded its Bitcoin holdings once again, purchasing 1,665 BTC for approximately $142.7 million.
The latest acquisition lifted the company’s total Bitcoin holdings to 847,666 BTC, while Strategy continued selling MSTR shares to finance its cryptocurrency purchases and preferred stock repurchases.
Strategy Buys 1,665 Bitcoin
Strategy purchased the Bitcoin between Monday and Sunday at an average price of $85,681 per BTC.
The company disclosed the acquisition in a Sept. 28 filing with the U.S. Securities and Exchange Commission.
Following the latest purchase, Strategy now holds 847,666 Bitcoin.
The company has spent approximately $63.95 billion building its Bitcoin treasury, including fees and related expenses.
Its overall average purchase price stands at around $75,437 per Bitcoin.
MSTR Share Sales Fund Bitcoin Purchase
Strategy financed the latest Bitcoin acquisition through sales of its common stock.
The company sold approximately 1.47 million MSTR shares, generating $246.2 million in net proceeds.
Of that amount, roughly $142.7 million was allocated to Bitcoin purchases.
The remaining $103.5 million was directed toward repurchases of Strategy’s STRC preferred shares.
Strategy Repurchases STRC Preferred Stock
Strategy also repurchased approximately 1.53 million STRC shares for $151.7 million.
In addition to proceeds generated from MSTR stock sales, the company used $48.1 million from its U.S. dollar cash holdings to complete the preferred stock repurchases.
The move demonstrates how Strategy is balancing its aggressive Bitcoin accumulation strategy with management of its broader capital structure.
Bitcoin Buying Resumes After Brief Pause
The latest acquisition follows another Bitcoin purchase the previous week.
Strategy bought 950 BTC for approximately $75.7 million after pausing purchases for two consecutive weeks.
The company has repeatedly used equity offerings and other financing mechanisms to increase its Bitcoin holdings.
This strategy has transformed Strategy into the world’s largest publicly traded corporate holder of Bitcoin.
Strategy’s Cash Balance Declines
The company’s “USD Cash” balance fell to approximately $1 billion from $1.05 billion during the week.
The decline mainly reflected the $48.1 million used to finance STRC preferred stock repurchases.
Strategy also maintains a separate U.S. dollar reserve intended to cover preferred stock dividends and interest payments on its debt.
That reserve declined slightly to $5.02 billion from $5.04 billion after the company paid around $22.1 million in dividends.
Strategy Bitcoin Holdings Approach 850,000 BTC
With 847,666 BTC now on its balance sheet, Strategy is approaching the major 850,000 Bitcoin milestone.
The company continues to use capital raised through MSTR share sales to finance additional Bitcoin purchases while managing its preferred stock and debt obligations.
Investors will now be watching whether Strategy continues its rapid accumulation pace as Bitcoin prices fluctuate and the company’s massive cryptocurrency treasury continues to expand.
