Strategy Boosts Bitcoin Holdings to 848000 with $287 Million Purchase

Michael Saylor's Bitcoin treasury company, Strategy (MSTR), has expanded its holdings by acquiring 334 BTC for approximately $28.7 million between September 28 and October 4. The purchase was made at an average price of $85,838.80 per bitcoin, according to an 8-K filing with the Securities and Exchange Commission. Strategy now holds a record-high 848,000 BTC, worth around $73 billion, bought at an average price of $75,440.70 per bitcoin.

The latest acquisition was funded through proceeds from the sale of 92,894 MSTR shares, totaling $15.7 million, and the company's USD Cash reserve, which covered the remaining $13 million. As of October 4, $18.8 billion worth of MSTR shares remain available for issuance and sale under the program. Strategy also repurchased 1.77 million STRC preferred shares for around $176.3 million last week, using $154.1 million from its USD Cash reserve and $22.2 million from interest earned on its cash and investments.

Strategy's total bitcoin holdings now represent more than 4% of bitcoin's 21 million supply cap, implying around $9 billion in paper gains at current prices. The company's stock fell 7.1% last week, closing at $160.01 on Friday, but is up 0.5% year-to-date. Bitcoin's price remained flat over the same period.

Michael Saylor posted a bitcoin acquisition tracker chart on X with the caption 'More orange than ever,' a phrase that has typically preceded bitcoin acquisition announcements. Per Bitcoin Treasuries data, 196 public companies have adopted some form of bitcoin acquisition model, with Strategy leading the pack.