Michael Saylor’s Strategy has expanded its Bitcoin holdings to 848,250 BTC following a recent purchase of 250 BTC. The acquisition, valued at $21.5 million, marks the second consecutive week of reduced buying activity for the company. Strategy funded $21 million of the purchase through sales of its common stock and used existing cash for the remaining $500,000.
The company also continued its repurchase of STRC preferred stock, spending $192.4 million during the week, an increase from $176.3 million the previous week. Strategy’s Nasdaq-listed common stock, MSTR, saw a slight pre-market gain of less than 1%, while the preferred stock was set to open at $99.68 per share.
Strategy maintains a $4.88 billion US Reserve to support preferred stock dividends and debt interest payments, with a separate USD Cash balance of $640.5 million as of Sunday. The purchase came after founder Michael Saylor hinted at another Bitcoin acquisition with the message, “There’s always room for more orange.”
The company’s Bitcoin accumulation has slowed in recent months, with holdings growing just 0.2% during the third quarter. Strategy acquired 7,218 BTC while selling 5,553 BTC during this period.